Without a doubt, the biggest event to happen since we published our last report in February was the long awaited release of the FCA paper ‘PS 13/1: Payments to platform service providers and cash rebates from providers to consumers’.
What the paper has done is to confirm the revenue models which will apply for fund managers, platforms and advisers in the future. The impact of RDR is becoming clearer, some key questions have been answered and advisers we have spoken to this quarter seem to have a greater understanding of what is expected of them by the regulator.
This quarter we have spoken to over 400 individual advisers about their experiences, contributing 1,200 new platform reviews. The adviser community feels more engaged with platforms than ever before, and with the regulatory questions now (mostly) out of the way, advisers are looking forward to see what’s next for platforms in 2013.
It is more important than ever for groups to understand the way financial advisers interact with platforms – their plans, their actions and their future intentions – in order to piece together a view of where the market is heading. How should platforms adapt their business models to reflect these trends? What opportunities and challenges does a growing platform market pose for asset managers, life companies and service providers when forming strategic relationships?
The Adviser Platform Guide is produced quarterly and is available to purchase at £4,950 +VAT for the entire year (you receive 4 issues) ($7,500, €5,800)*. For further information please email Freddie Findlater or see below.
'The Adviser Platform Guide – Issue 14' in the News
Transact tops The Platforum Q2 leaderboard
Transact has toppled Elevate off the top spot in The Platforum Market Monitor leaderboard for Q2, with Elevate coming second and Sippcentre third.
Money Marketing, 23rd May 2013
As the platform arena becomes ever more important across the distribution landscape the research provided by Platforum is not only timely, useful and insightful, but is also market leading.Jasper Berens, Head of UK Intermediary Sales, JP Morgan Asset Management
The Platforum's Adviser Platform and Distribution Guide is without doubt the best source of research available on platforms in the market today. It’s beauty is that it is contemporary, informative and uncomplicated. Well done!Pete Wyatt, Head of Platform, Seven Investment Management
The Platforum have been collecting data and providing thought provoking insight since the UK platform market first emerged over ten years ago. Without them, the sector would be a far less informed place - the depth and quality of research just keeps getting better and is always at the cusp of what’s happening.Terry Huddart, Technical Communications Manager, Nucleus
We find the market research useful, and when it has been applicable, we have used it to provide context in Board discussions.Charlie Eppinger, Chairman, Cofunds
Previous Adviser Platform Guides
Most would agree that the 1st January 2013 marked one of the most significant points of retail financial services history, and certainly one of the most momentous steps in the relatively short lives of the adviser platform market.
It’s over a decade since the first UK adviser platform launched. Since then the sector has moved at the pace of a champion thoroughbred and the field has grown to 25 propositions. Platforms now hold £191bn AUA and are central to retail distribution strategies.
It’s over a decade since the first UK adviser platform launched. Since then the sector has moved at the pace of a champion thoroughbred and the field has grown to 25 propositions. Platforms now hold £190bn AUA and are central to retail distribution strategies.
- Examination of 25 key market players tracking AUA growth, sales data, user numbers, adviser sentiment and ratings as well as The Platforum’s expert views and opinion.
- Leaderboards based on user feedback as well as an assessment by The Platforum and our partners on momentum, financial strength and price
- Analysis on how advisers are using platforms today and in the future - investment strategies, trends and developments
Our ‘best-seller’, The Adviser Platform Guide is a must for any group wanting to understand and keep abreast of UK retail financial services distribution.
- As at Q3 11, total IFA platform assets were £168.02 billion
- On a like-for-like basis from 30 Jun to 30 Sep, adviser platforms shrank by 4.33%.
- We report AUA for AJ Bell’s Sippcentre platform for the first time
- 77% of new adviser business in Q2 11 was still written off-platform
- Pershing have re-launched their Nexus Complete platform services to advisers
- Despite market turmoil, there are now 12 platforms that have AUA greater than £3bn. In August 2010, there were only 10 platforms with over £1bn
*VAT is generally charged on goods/services to be consumed in EU countries but not on goods/services to be consumed outside the EU.