Platforms must address transparency issues - Novia

Whilst being fully behind the FSA's proposals to clean up the industry, it urges the regulator to ensure that platforms get into shape by addressing issues such as providing a broad range of assets, clear charging and provider independence. Citing some of the conclusions of Ernst & Young's recent paper 2012 Going for Gold, it says: "The lack of transparency will undermine some platform providers, as they have factored in the opaque kick-backs into their financial calculations." Novia CEO Bill Vasilieff says that 80% of advisers now use platforms and if a platform is wondering if it is...