Ola Abdul: To switch or not to switch platforms? That is the question

Switching unnecessarily difficult

clock • 4 min read

If we start from the principle that choice and the freedom to change are good for clients, writes Ola Abdul, then investment management still has much to learn from other industries - not least energy and retail banking

For generations, choosing a current account was akin to choosing which football team to support. You picked once and stuck with it - and, while many may have spent a lifetime rueing their choice, switching was unthinkable. Until 2013 that is, when the Current Account Switch Service was introduced. Since then more than four million people have successfully switched current accounts, with the scheme simultaneously offering greater choice to consumers and injecting transparency and competition into the market. Clearly, of course, the investment management market is much more complex than...

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

Quilter reports platform net inflows of £1bn in first quarter

Quilter reports platform net inflows of £1bn in first quarter

Ongoing adviser charging review to start shortly after FCA talks

Jenna Brown
clock 24 April 2024 • 2 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read