The lang cat and AJ Bell issue call to arms on platform switching

Switching can be 'absolutely brutal'

Tom Ellis
clock • 2 min read

In a bid to stir up the platform market and encourage advisers to move clients between providers, the lang cat has released a report on platform switching.

The consultancy, which has previously argued the platform market is "broken" because switching is so difficult, said the sector needed to find a way "to increase the velocity of money moving around". "It may be the case that compliance teams are being - understandably - overzealous in their process for risk management purposes," the firm said. "We think it should be perfectly possible to create a streamlined advice process which satisfies regulatory requirements, controls risk for businesses, is understandable for clients and cost-effective for everyone involved." The lang cat surveye...

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