Deloitte: Platform market will see 'major consolidation'

A paper from the firm said while assets under administration on intermediary platforms are estimated to grow significantly - from about £200bn to £600bn in 2018 - the number of operators would shrink due to pressure on fees. The paper said: "Assuming similar levels of industry concentration, less than ten platforms are likely to be profitable in 2018, indicating a major consolidation wave."At present the market is dominated by a handful of players. Deloitte said Cofunds, Skandia and FundsNetwork dominate, while vertically integrated providers such as Standard Life and Axa are continui...