Services provider threesixty is launching a new platform comparison tool, designed to help advisers carry out due diligence.
Developed in conjunction with Capita and The Platforum, the Comparator software can accurately estimate the cost of using a particular platform, including underlying fund charges and advisers' own fees.
With details of most of the major platforms, the tool can be used in tandem with threesixty's model portfolio services.
Phil Young, commercial director at threesixty, says: "The platform industry has been unable to facilitate an easy, like-for-like comparison of costs and we have worked with Capita to develop an answer to this problem.
"We recognise that cost is only one part of the overall reason for platform selection and the cheapest option is not always the best.
"However, the difficulties involved in comparing charges were a sufficiently important enough reason for us to develop this unique software tool for the benefit of threesixty clients."
The service is available free to all clients of threesixty's compliance audit services and will be launched at the company's Principals Forums over the next month.
Less environment, more governance threatens to undermine firms' green credentials
Evidence your compliance
Quarter of single pensioners dependent on state