Tim Sargisson: Platforms - not 'mind the gap' but 'mind the chasm'

The client ends up paying

clock • 3 min read

The amounts of money now involved in 'replatforming' are astonishing and, warns Tim Sargisson, it would be a mistake if advisers saw this only as a problem for providers and not for themselves and their clients

Am I alone in wondering if an unintended consequence of the 2008 financial crash is that we have become anaesthetised to big numbers? I suppose everything else these days seems like loose change when one considers that £124bn was provided in the form of loans and share purchases, which required a transfer of cash from the Government to the banks. Maybe this helps to explain the collective torpor of advisers in regard to the world of platforms and technology. I am prompted to write this because Old Mutual Wealth announced earlier this month it was dropping IFDS as its technology provid...

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