Nucleus warns platforms to monitor adviser-client relationship

Business development director Barry Neilson said platforms have become part of the overall supply chain, which must collectively ensure good outcomes for consumers. As such they are expected to monitor and flag up practices that may "abuse" the service they offer, he said. For instance, platforms are expected to query adviser fees that seem exceptionally high or asset allocations that they don't deem sensible. This could become tricky for some platforms running on old technology, which does not allow them to hold all a client's data in one place, he said. It will also be a growi...