Advisers removing clients' assets from platform giants

Figures from a Q2 report by the research and consultancy firm, quoted in a white paper by adviser-controlled platform Nucleus, suggested advisers are walking away from older provider-owned fund supermarkets. The latest Platforum report asked advisers from which platforms they were moving clients' assets away. Cofunds topped the list at 50% of responses, followed by FundsNetwork at 37% and Old Mutual with 24% (see graph below).     Nucleus said the figures relate to the use of rebates to pay for the cost of the platform and to facilitate adviser trail commission, which wil...