The Platforms Association’s (TPA) transfer charter has seen most of the UK’s investment platforms sign up to it, pledging to improve transfers for advisers and clients. With transfer delays having been on the Financial Conduct Authority’s radar for the last ten years, the issues with transfers may run deeper than platforms and advisers agreeing to work to certain standards.
Transferring client assets across platforms, whether they be pensions or investments, has been a known headache for advisers for a long time. TPA hopes that its transfer charter will do something about this, offering a "co-ordinated industry commitment to modernise how investments are transferred between platforms". Most of the UK's investment platforms have signed up to the transfer charter – with the exception of Parmenion and Fundment – with the hope of improving things. Parmenion previously said it applauded the intent of the initiative and would be delighted to see it succeed....
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