Independence concerns are driving advisers using life company platforms into the arms of additional providers, whereas smaller brand players tend to be advisers' sole choice.
Research conducted by The Platforum using data from 900 advisers reveals that IFAs using Standard Life and Elevate are more likely to ‘play the field’ and use other platforms – citing fears about independence and lack of contact with senior directors – while smaller players such as Ascentric are most likely to be advisers’ sole platform. It also suggests the most common combination of platforms for advisers is a mix of Skandia, Fidelity FundsNetwork and Cofunds. The next most common combination is two out of these and a newer wrap proposition, most often Transact. The Platforum man...
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