Written by Ben Hammond on 13 June 2018
As seen in Wealth Adviser on 13/06/2018, Professional Adviser on 13/06/2018, Money Marketing on 14/06/2018, Investment Life & Pensions Moneyfacts on 11/09/2018, IFA Magazine on 11/09/2018 Money Marketing on 19/06/2018
Six years ago we released a white paper, The Platform Machine: Tuning for Efficiency. In it we discussed that, in spite of ever increasing levels of Assets under Administration, all was not well in platform land. Revenues were rising across the board, but costs were outstripping them, in many cases significantly so. Now, five years later, we are releasing Giving your platform wings, a white paper re-evaluating the current platform industry. These are our key findings:
The platform industry has taken off over the last 5 years but, for the majority, significant profits still remain out of range.
- Margins have fallen, regulatory scrutiny has risen; platforms have had to deal with the turbulence.
- Automation is key but it can be expensive, so platforms need to be clear where they will get the most thrust.
- That means understanding where costs are high, where they are likely to get higher and how to bring them safely back down to earth.
- Outsourcing can get you off the ground faster but it will add to your payload over time.
- The price of flying is key but don’t forget the cost of your ground crew – they can ground your profits too if you’re not careful.
There is undoubtedly profit to be made in the platform sector, as evidenced by a few of the current high-flyers. The question is whether the rest of the pack can keep up – and how they can do so.
Improving treatment of vulnerable customers
Written by Sam Turner on 14 March 2019
The financial services industry is lagging when it comes to identifying and servicing vulnerable customers, putting them at risk of both regulatory and reputational damage. While some businesses seem to be making progress – writing vulnerable customer policies, training staff and adopting front-line techniques – there is still a lot to be done.
Altus Consulting joins Insurtech UK as consultancy partner
Written by Mark Andrews on 12 March 2019
Altus Consulting, a leading financial services consultancy, has officially become a partner of Insurtech UK, joining the first wave of associate members and partnership sign-ups of 2019. With the aim of becoming the definitive voice of the InsurTech community in the UK, the alliance has welcomed over 40 InsurTech start-ups since its launch in November 2018.