Tim Sargisson: Platforms - not 'mind the gap' but 'mind the chasm'

The client ends up paying

clock • 3 min read

The amounts of money now involved in 'replatforming' are astonishing and, warns Tim Sargisson, it would be a mistake if advisers saw this only as a problem for providers and not for themselves and their clients

Am I alone in wondering if an unintended consequence of the 2008 financial crash is that we have become anaesthetised to big numbers? I suppose everything else these days seems like loose change when one considers that £124bn was provided in the form of loans and share purchases, which required a transfer of cash from the Government to the banks. Maybe this helps to explain the collective torpor of advisers in regard to the world of platforms and technology. I am prompted to write this because Old Mutual Wealth announced earlier this month it was dropping IFDS as its technology provid...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA360: Clients' lack of understanding of advice value is 'concerning'

PA360: Clients' lack of understanding of advice value is 'concerning'

‘Anyone running a business needs to offer value to their clients’

Sahar Nazir
clock 25 April 2024 • 1 min read
PA360: Advice firms 'brush over' data integrity fundamentals

PA360: Advice firms 'brush over' data integrity fundamentals

‘Your business and your people are under attack constantly’

Isabel Baxter
clock 25 April 2024 • 1 min read
PA360: The need for a financial plan 'has never been higher'

PA360: The need for a financial plan 'has never been higher'

‘It needs to be done in a different and innovative way’

Isabel Baxter
clock 25 April 2024 • 2 min read