Following feedback from advisers, consultancy the lang cat has added AKG financial strength ratings to Platform Analyser, its interactive online tool and insight service.
AKG's ratings provide an independent assessment of a company's financial strength at an operational level.
Within the platform sector, AKG considers a wide range of factors including the platform's capital and asset position, profitability, parental strength, operating environment and ability to withstand external market forces.
The firm has more than 20 years' experience in assessing financial services companies, including a ten-year track record of producing platform ratings.
The lang cat's Platform Analyser was launched in February 2020 with the aim of simplifying the process of platform selection for advisers.
Platform Analyser subscribers can either use the financial strength ratings as a single measure when performing a business analysis screening or as part of a broader due diligence project alongside other criteria from the lang cat's 11,500 data points across 25 advised platforms.
The lang cat head of proposition Terry Huddart described the AKG ratings as "a highly respect independent assessment of a platform's financial strength".
"We felt adding the ratings to Platform Analyser would provide a great deal of extra value to advisers using the tool for platform selection," he said.
"We are continually developing Platform Analyser's functionality based on user requirements and feedback and look forward to adding a number of new features in the coming months."
AKG communications director Matt Ward added: "AKG's financial strength ratings are designed specifically for use by intermediary firms and our aim is to make them as accessible as possible across the market.
"The ratings have appeared in previous editions of the lang cat's 'Guide to Advised Platforms' and we are excited to see them added to Platform Analyser where they can help to provide a key component part of the due diligence exercises being carried out there by advisers and paraplanners."
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