Capita Financial Software is developing an ‘on and off' platform comparison service as part of its Synaptic Comparator tool.
The new service, set for launch in Q4, will enable advisers to consider both on and off platform open architecture investments for clients, in line with FSA requirements set out in its November consultation paper.
"Following CP 10/29, it is clear the FSA is keen advisers not only consider which platforms are suitable for individual clients, but they also review whether platform investment is, in fact, the most suitable approach," said Capita sales director Jonathan Phillips.
"The new version of Synaptic Comparator will enable users to compare the total solution cost across on and off platform investments which will be a massive benefit to both advisers and clients alike."
Synaptic Comparator currently compiles data on 20 platform charging structures, thousands of funds and over 300 wrappers including SIPPs, personal pensions, ISAs, on and offshore bonds and general investment accounts.
Meanwhile, Capita hailed its recent platform due diligence day held in the Tower of London a "great success" with over 120 industry professionals coming together to discuss platform selection, client segmentation and regulation.
During the day, Aviva's Phil Ralli said the platform policy paper, expected next month, could have a "fundamental" impact on how players operate.
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