OMW platform upgrade delays could cause issues for advisers who will not be able to service their clients using the most modern digital technology for another three to five years, a platform specialist has warned.
Old Mutual Wealth (OMW) results released today showed platform upgrades have been delayed by two years, costing an additional £250m, bringing the total cost to £450m. FinalytiQ director Abraham Okusanya (pictured) said OMW had "massively underestimated" the time and effort it would take to switch its platform to new operating system IFDS BlueDoor. Okusanya said the move to new technology is a good thing for advisers as it should make it easier to do business on the platform in the long run. But he warned advisers will be affected in the short-term as they will not be able to offer ...
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