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
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.