Moving house is often cited as one of life's most stressful events but what about platform migration? Kevin Okell looks at the woes associated with shifting financial data from one place to another and asks where is the financial services Pickfords?
On 1 February the latest piece of the electronic transfers jigsaw puzzle fell into place with the introduction of new rules requiring automatic share class conversions between platforms. This was part of a broader Financial Conduct Authority (FCA) initiative on "Making Transfers Simpler" which culminated in PS19/29 just over one year ago. The regulator's recent focus on transfers should come as no surprise given that promoting competition is one of the three core FCA objectives. Making it easier for consumers to move between suppliers is an obvious way of demonstrating the presence of su...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
