IFAs 'don't know how' to carry out platform due diligence

Although the FSA’s platform discussion paper calls for IFAs to thoroughly screen the different platforms, a CWC Research survey has found many advisers are unsure where to start. CWC senior partner Clive Waller says it is ultimately the responsibility of the FSA to ensure advisers know how to examine the advantages and drawbacks of different providers. “IFAs are expected to carry out platform due diligence but most, quite reasonably, no not know how,” he says. The survey of 100 advisers from 76 firms found 80% see platforms as core to their business strategy in the future. Almost h...