More advisers switching platforms as Consumer Duty looms

Defaqto's annual Platform Service Review for 2023 found that more than a quarter (28%) of advisers changed one or more of their preferred platforms in the last 12 months. This is compared to less than one in five (19%) last year. This uptick may reflect the rising pressure on advice firms to ensure everything they do is aligned with the Consumer Duty rules by the July deadline. Another developing trend Defaqto picked up on was advisers increasingly choosing to use multiple platforms rather than limiting themselves to one. The review also took in responses on which platforms adviser...