Single platform use should not threaten independence - advisers

clock

Half of advisers do not believe single platform use should compromise their independent status, a poll suggests.

Research undertaken via NMG's Financial Adviser Census in October found that 49% of 215 IFAs asked said they do not accept that the use of a single platform threatens independence. A further 39% expressed a similar view over the use of a single investment proposition. The regulator said in July that it had found evidence of firms describing themselves as IFAs which were either placing "almost all" business with one platform or had a pre-determined list of products or investments. The FCA has previously expressed the view that it is possible, though unlikely, for firms to use a sing...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read
Aviva named the preferred platform provider by advisers

Aviva named the preferred platform provider by advisers

Quilter remains in second place followed by AJ Bell and Transact

Isabel Baxter
clock 04 March 2024 • 1 min read