Advisers not ready for full wrap platforms - Skandia

Whilst most traditional life companies have focused on developing full wrap or wealth management services, the reality is that very few financial advisers are ready to utilise all the services that full wrap platforms offer. The recent announcement by Friends Provident and the problems encountered by Norwich Union and its Lifetime platform provide clear evidence as to how competitive the platform market has become, according to Skandia. The demand for platforms is clearly growing, but the core market at the moment is for guided or open architecture platforms that provide advisers with a...