Advisers who can demonstrate excellence in incorporating platforms within their businesses are being urged to submit an entry for the UK Platform Awards 2010.
The Awards will be held at the London Marriott, Grosvenor Square on 28 September and Professional Adviser is delighted to be the media partner. They will celebrate achievement and success in technology, service and innovation.
Once again, there are two adviser awards:
The first is for the leading platform-based adviser practice for firms with up to 10 advisers. Typically, this will be a firm working from one location and with a clear customer proposition. The judges will be looking for evidence that a first-rate customer offering is supported by the platform for processes such as research, model portfolios, benchmarking, reviewing, re-balancing and reporting. Naturally, the judges appreciate that the nature of the customer offering will define which tools are employed.
They will also expect to see evidence that the platform brings about efficiencies within the practice that lower administrations costs whilst improving the customer experience.
The second award is for those firms with more than 10 advisers. In a larger firm, the use of platforms presents different challenges and the larger firm is likely to have more client segments and specialist areas. The platform may be appropriate for some parts of the business and not for others. Differing client propositions might necessitate the use of two platforms. Within the units where platforms are employed,
the judges will be looking for exactly the same qualities as for the advice practice award.
In addition, they will be looking for evidence of successful and appropriate client segmentation and informed platform selection.
The RDR and the FSA's latest platform paper pose more challenges to the adviser, especially around due diligence, costs and suitability. The winners will be aware of these issues.
Those adviser firms wishing to enter should complete a submission form (see below). The firms entering the three best submissions will be invited to meet the judges in July to answer questions about their practices. The interviews will be held in July at SWIFT's offices in the City of London.
A word of guidance! Entrants often ask why their excellent submissions do not win. Whilst it could be that the proposition is quite simply not good enough, often it is because the entrant did not answer the questions asked. Thus, the best advice is: read the question, answer it and keep to the number of words requested where appropriate.
All finalists will get a mention at the awards dinner, as to get in the top three is an achievement in itself.
For submission forms:
1 The leading platform-based adviser practice (up to 10 within practice) go to
2 The leading platform-based adviser business (over 10 in business) go to
Clarke replacing Balkham
'Deep-dive analysis of client behaviour'
Ways to mitigate April’s increases
The best equity income funds examined