Providers offer wrap and platform clarity

Addressing a seminar dealing with the future impact of wraps and platforms on Wednesday (March 7), Charlie Eppinger, chief executive of Cofunds, said platforms serviced the mass affluent market, while wraps cater for the sophisticated high net worth sector and discretionary clients. David Dalton-Brown, executive director and head of FundsNetwork, agreed with Eppinger. He said the company would always be more comfortable describing itself service as a ‘platform’, even as it moved into a fee-based environment. Dalton-Brown said: “We are worried about the use of the word ‘wrap’. A lot ...