Why advice firms should outsource their platform due diligence

‘It's really time consuming to do it on an individual firm basis’

Isabel Baxter
clock • 5 min read

Advice firms should look to outsource their platform due diligence as it is time consuming to do it on an individual firm basis, Plan Works Chartered paraplanner and director Siân Davies Cole says.

Plan Works is an outsourced planning and adviser consultancy and one of its services is helping advisers with platform due diligence. For advisers, it is time consuming to do platform due diligence on an individual firm basis, according to Davies Cole.  "If we were doing platform due diligence for one firm and one firm only, the cost will be astronomical because there's so much time and energy involved and if time is involved, then it's going to be expensive." She added: "It's going to absolutely sap your time." "You're going have to have so much knowledge about something that d...

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