Zurich: Advisers putting platforms under greater scrutiny

Instead of 'do you have a model portfolio', now advisers are enquiring about how the portfolio works, what it does and the detailed cost structures, he said. "They are asking fewer closed questions as they are looking to eliminate risk for their clients", he said, "and they are going deeper and broader. "They are enquiring about the level of financial strength, the capability of model portfolios and how in-depth they are." The regulator has repeatedly pointed to the need for more rigorous due diligence of platforms in recent months, after making it clear in its platform paper advis...