Early findings from The Platforum’s first research with financial advisers this year suggests the re-registration of client assets may have slowed slightly.
Over 42 per cent of advisers say they would look to move a percentage of client assets from one of their existing platforms to another. Forty per cent say they would still not be moving any of their client assets. However this compares with 56 per cent of advisers who were looking to move assets this time last year.
But with advisers either flirting with the idea of re-housing a proportion of their clients’ assets or actively pursuing this, could 2014 be the year that re-registration finally rocks the boat?
Towards the end of 2013 and into 2014, much has been reported on platform pricing, margin pressures and an increasingly competitive environment for platforms to deliver exceptional service. Competition is fierce.
For the advisers we speak to, one of the single most important factors in considering which platform to use for new business is feedback from other users, a belief the platform is easy to use and that the levels of service provided are beneficial to advisers’ clients. To gauge this across the adviser community, The Platforum are asking all advisers a single, simple yet vitally important question.
“What do you think is the best platform in the market right now?”
Voting is easy – just click here to vote.
The Platforum will be announcing the winners at our annual party and awards night on February 28 which will be held this year in Circus, Covent Garden.
Awards are voted across the direct, adviser and workplace channels by the users. Everyone is welcome to come and we have a few tickets left. The dress code is Whatever Makes you Happy, and the awards will be handed out by the alarmingly stern Ringmaster Remi.
All advisers who enter will be in with a chance to win a pair of tickets worth £200 to the event where we will unveil the results. You will also win an annual subscription to PAT, our platform analysis tool.
For more information on our event, please visit our website.
Freddie Findlater is head of adviser platforms at The Platforum- part of Money Marketing’s parent company Centaur Media