• "The adviser platform market can only support 5-6 platforms"
• "IFAs determine which funds are bought in the UK"
• "The direct channel is exploding"
• "The corporate platform market is never going to take off"
• "Continental Europe is a different world to the UK"

By Stephen Mohan, Managing Director Operational Services, Cofunds

So here we are. It’s March in the countdown year to RDR implementation and the re-registration proposals in Policy Statement 12/3 could throttle the hard fought for industry momentum.

This isn’t some weasly-worded excuse for not continuing to push hard on re-registration or a badly-timed bit of scare mongering. It is a regrettable and highly frustrating statement of fact.

The proposals for platform to platform re-registration are a very real operational concern for the industry and have the potential to make life harder for end-investors just when they should be made easier. By combining the impact of PS11/9’s deferral of the rebates decision with the CP11/26 statement that re-registration is not advice within the terms of PERG, the industry – until now, moving at relatively good speed and consistency – has had to pause and change its approach.