Firms looking to operate in the adviser as a platform space should not take the plunge for a few extra basis points (bps) and must carefully weigh the increased risks of operating as co-manufacturers, Mark Polson has said.
Speaking at the Personal Finance Society (PFS) conference yesterday (12 November), The Lang Cat principal said advisory firms must think carefully before operating as a platform or taking discretionary permissions as there is a relatively limited upside in the face of significantly increased risks. However, he said it was a growing option for advisory businesses looking for more control with 6% currently operating adviser as a platform and 15% interested in it, according to the latest State of the Adviser Nation report. Some 9% of firms now have their own discretionary permissions, he ad...
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