Mis-trust of wrap platforms by IFAs, and fears providers could sell direct to consumers are understandable but unfounded, claims Standard Life's marketing director.
John Taylor, who helped to develop Standard Life’s wrap proposition, points out many IFAs are concerned about wraps in the way all their clients data would be held on the providers system, allowing them if they wanted to, to cut out the IFA. But he says the IFA market is a very resilient one which he expects to last well into the future, and the last thing providers would want to do is “anything to upset that, and so they wouldn’t try to take away any data”. However he says the increase in wrap platforms could see a “more liberalisation of information flow between providers and intermed...
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