Wrap platforms are likely to have to extend their product ranges as the Retail Distribution Review (RDR) places greater emphasis on ‘whole of market' for professional advisers.
Bill Vasilieff, co-founder of Selestia and CEO of new wrap proposition Novia, says the RDR is likely to be the catalyst for the widespread adoption of platform technology. The distinction made in the RDR between sales and advice will also mean professional advisers will have to show they are able to recommend products from across the market. Vasilieff says: “This will include not just the unit trusts and OEICs we have at the moment but will also extend to products such as investment trusts, ETFs, hedge funds and direct shares which we will have on our platform.” Charging structures...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
