When it comes to assessing the suitability of a platform, otherwise known as conducting due diligence, each adviser, provider, colleague and ‘expert' will have an opinion on the platform that is best for your client and for your business. However, ultimately it is only your opinion that counts.
The FSA has made it clear advisers need to conduct due diligence on a platform before recommending it to a client stating: ‘The suitability of any platform will depend upon the client’s particular circumstances and requirements. Irrespective of any strategic firm decisions to use a platform, you must still consider whether a platform is suitable and meets each client’s needs before recommending it.’ (FSA factsheet Platforms: using fund supermarkets and wraps) Opinions and recommendations do matter, but the end result must be that the client is able to place their business with a platform th...
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