Platforms told to 'clean up their data' as transfer charter approaches

The Platforms Association to launch charter later this month

Isabel Baxter
clock • 4 min read

Advisers’ willingness to switch platforms is being held back by poor data, legacy providers and fragmented processes, delegates heard, but a new industry transfer charter aims to raise standards.

At Intelliflo's Innovate conference today (9 June), Woven Advice founder Nicky Sevel surveyed adviser delegates in the room on their position on switching. Advisers were split with slightly more than half - 50.7% - saying they felt more likely to switch platforms, with 49.37% less likely or unchanged. Some 58% of respondents had expected that figure to be higher, but Savel argued the result reflected the reality of platform switching rather than any lack of appetite among firms. When asked what would most increase their likelihood of switching, almost 30% of delegates cited accurate d...

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