Client disparity from multiple platforms usage a 'Consumer Duty risk'

Chief executive of the investment platform Ian Partington today (30 January) said advisers are "at the mercy of platforms" and had work to do on their approach to platform usage in order to stay compliant under Consumer Duty. "Currently, advisers are using multiple platforms for their client base, leaving them at the mercy of the platforms when it comes to costs. With certain clients, therefore, being charged more than others for the same service, it hardly presents a fair model," he warned. By advisers moving operations onto a single platform, Partington said firms can then have bett...