The lang cat and AJ Bell issue call to arms on platform switching

Switching can be 'absolutely brutal'

Tom Ellis
clock
"It should be perfectly possible to create a streamlined advice process that satisfies regulatory requirements, controls risk for businesses, is understandable for clients and cost-effective for everyone involved.”
Image:

"It should be perfectly possible to create a streamlined advice process that satisfies regulatory requirements, controls risk for businesses, is understandable for clients and cost-effective for everyone involved.”

In a bid to stir up the platform market and encourage advisers to move clients between providers, the lang cat has released a report on platform switching.

The consultancy, which has previously argued the platform market is "broken" because switching is so difficult, said the sector needed to find a way "to increase the velocity of money moving around"...

To continue reading this article...

Join Professional Adviser

 

  • 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.
  • Tap into our community intelligence through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

David Ferguson: "I think we will see big changes on how platforms can support advisers and customers with better integration of systems."

Exclusive David Ferguson interview: Platform switching activity to rise in 'redefined' market

Ferguson to run Octopus-owned Seccl

Jenna Brown
clock 20 January 2022 • 3 min read
FCA strengthens crypto investment promotion rules

FCA strengthens crypto investment promotion rules

‘Restricted mass market investments’

Jenna Brown
clock 19 January 2022 • 2 min read
These changes will be brought via secondary legislation to amend the Financial Promotion Order, which sets out the investments and activities that are subject to the regime.

Government set to tighten rules on 'misleading' cryptoasset promotions

Six month transition

James Baxter-Derrington
clock 18 January 2022 • 1 min read