This whitepaper looks at the potential impacts of Consumer Duty on platform use and selection – including the drivers pushing advice firms to consider running their own platforms.
Our research breaks down the role of platforms and how they have evolved in the last 20 years, as well as what the next 20 years could hold. Margin pressures and proposition complexity have stifled innovation and slowed development down, and with even more regulation coming down the track in the form of the Consumer Duty rules, how will platforms adapt?
In this whitepaper we explore
- How the platform market has exploded since 2012’s Retail Distribution Review
- To insource or outsource? Why some advisers are running their own platforms, powered by new technology
- User frustration with poor service, inefficiency, and tech integration
- What advisers really want from a platform
- How the FCA’s new Consumer Duty rules’’ focus on service and support could reshape the platform market
- How advice firms and platforms will have to work more closely together on due diligence and align under a mutual understanding of the outcomes they jointly deliver
- The value platforms deliver
- The pressures of thin profit margins
