Consumer Duty rules drive advice firms to run their own platforms

Investment platforms integral to professional advice, experts say

Julia Bahr
clock • 5 min read

While businesses are getting ready for the new Consumer Duty regulation, adviser frustration with platforms is increasing with some moving to set up their own operations, research from Parmenion has shown.

In a whitepaper produced in conjunction with Altus, published today (16 November), the firm explored the future of platforms, and highlighted the importance of thorough due diligence to get the right client outcomes as regulatory pressures mount. In its research, Parmenion explored how advisers could get the value they need from platforms. "Put very simply, the role of a platform is to take money in, look after it and pay it out," the firm said. "Doing that efficiently ought to be table stakes, but bluntly there are still far too many examples of delay, duplication, and waste acros...

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