Towry predicts wave of platform consolidation

Fisher, speaking today at The Platforum's conference, says there are around 35 too many players in the current market and expects the frenzied competition to drive charges down to dramatic lows. "In the future there will be a clear differentiation with a few winners and a lot of losers," he said. "Low cost providers could charge 10 basis points for a platform." "If you are business that likes high margins - such as life companies - you are probably in the wrong game." He added the overcrowded state of play will result in "serious consolidation" with the future market holding just f...