Some 61% of advisers predict platform provider consolidation to accelerate over the next three years, with many also raising concern about competition in the market, latest research from Scottish Widows reveals.
The provider said that larger advice firms it surveyed were more concerned about platform consolidation with 75% saying it would increase in the same time frame. Scottish Widows' latest Investor Confidence Barometer found 92% of advisers thought platform competition was important for client outcomes, 72% said they recognised the importance of "niche providers" while 35% said they were worried about the extent of platform consolidation. The study, which spoke with 200 advisers in July and August last year, reported that 62% thought a platform collapse would impact their business, 23% o...
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