Digital disruption: Why platforms must sit up and take notice

Platforms face their own 'Kodak moment'

clock • 3 min read

When it comes to client income, platforms must innovate or risk being swept aside by tech challengers, writes Alistair Wilson

From Kodak to Blockbuster, big companies that failed to innovate have been swept aside by tech challengers. Digital disruption is a feature of our times - and platforms should take heed.  Since the government scrapped compulsory annuitisation last year, Association of British Insurers figures showed 63,000 retirees have moved £4.2bn into drawdown. As pensioners keep their pots invested into old age, advisers are looking for flexible ways to deliver income payments to clients and manage cash flow across different tax wrappers. But when it comes to getting money off platforms, the...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Big players give The Platforms Association's transfer charter a miss

Big players give The Platforms Association's transfer charter a miss

AJ Bell and Parmenion choose not to sign up

Sophia Panayi
clock 25 September 2026 • 2 min read
Most platforms sign up to transfer charter

Most platforms sign up to transfer charter

Signatories include Benchmark, Fidelity International and Quilter

Sophia Panayi
clock 17 September 2026 • 3 min read
Will the incoming stocks and shares ISA cash interest levy impact platforms?

Will the incoming stocks and shares ISA cash interest levy impact platforms?

Proposed regulations yet to clarify what is an ‘acceptable’ cash holding

Sophia Panayi
clock 15 September 2026 • 5 min read