Unveiling the Platforum Onion

Holly25th May 2012

What a busy week! We published our quarterly adviser platform research and included a special feature on the growing Institutional platform market as well as an Investments special. Hard copies will go out to our beloved subscribers on Monday – we hope you like it.

We also unveiled our Platforum Onion at the PFS conference which we proudly share with you here. We hope it's a useful illustration of the complexities of the platform market, the differences between platform technologies and platform propositions, and why we think those who predict there will be 5 platforms in a few years are bonkers. With more than 70 platforms across the board today, we'll leave you to digest the onion over the weekend. This is illustrative so please don’t get let it bring you to tears if your platform has not been included – there are only so many cloves you can squeeze into an onion!

A final big thank you to Ascentric who gave us a tour of their offices yesterday. I always like sticking my nose into the post room of a platform business – gives you a feel of how a place operates and Gerry's post room was a good 'un! It's great to see how the platform has grown and built some scale since launch nearly 6 years ago.

Have a great weekend all. No sunshine for me. After four and a half years of adding to Pampers' evil coffers, we're potty training little Bee so it's bribery and cajoling in the downstairs toilet. For those of you blokes who will be outside, please resist the urge to grab an oily machine from a shed, make noise and filthy smoke and pretend to be in a B-grade sci-fi film. Sit down, grab a beer and remember that shabby chic applies to gardens too.


Sponsored link from Aviva: Andy Beswick talks about what it means to be a mass affluent platform

More platforms to offer deposit services

Cater Allen Private Bank says it is looking to enable advisers to hold client deposits through a number of different platforms.

Read the full article in Money Marketing

Barclays launches structured investment platform

Barclays has launched online pricing and execution platform Comet for wealth managers to trade structured products.

In Depth: Will platforms offer esoteric investments?

Platforms clash over whether there is enough demand for them to carry esoteric investments.

Read the full article on FTAdviser

Brewin Dolphin set for True Potential deal

Brewin Dolphin is set to appoint True Potential to provide back-office software for its financial planning arm and adopt technology programme Figaro as its front-office investment management engine.

Read the full article in Money Marketing

FSA clarifies position on third party model portfolios

The Financial Services Authority FSA has sought to clarify its rules around IFAs using third party model portfolios.

Execution-only will retain poorer clients after RDR

Adviser firm HHPG Wealth Management is launching a direct-to-consumer proposition next month aimed at clients who cannot afford advice after the RDR.

Read the full article in Money Marketing

Polson: Life companies risk overspending on corporate wraps

Life companies risk spending hundreds of millions of pounds developing corporate platforms which may not be taken up by consumers at the rate providers expect, wrap consultant Mark Polson has warned.

Platforms are split on future of DFM services

Platforms are divided as to whether recent FSA guidance could mean the end of traditional DFM services.

PIMS: More platforms to offer deposit services

Cater Allen Private Bank says it is looking to enable advisers to hold client deposits through a number of different platforms.

Nucleus raids Standard Life to beef up operation team

Nucleus has bolstered its wrap operations team with the appointment of former Standard Life man Martin Leckie as investment operations manager.

Ascentric to hold adviser open days

Platform Ascentric is to hold a series of open days for advisers to help them better understand the service.

FSA: Platforms can't reward IFAs for assets after RDR

The Financial Services Authority has warned that platform providers which currently reward advisers or networks for high business volumes will have to stop the practice after the retail distribution review.

Techlink – What you missed (Weekly Bulletin from Technical Connection)

Techlink, from Technical Connection, is the smart way for you to:

  • Keep up to date
  • Have access to a full library of technical information and interpretation on all the key issues surrounding personal and corporate tax, UK and offshore investments, protection, corporate and business markets and trusts
  • Get valuable assistance with securing your professional qualifications; and
  • Plan and carry out technical CPD and have it automatically logged for you

All of this content is delivered through an extensive and regularly updated range of text based documents, audio visual programmes a

Transact tops The Platforum Q1 leaderboard

Transact tops The Platforum leaderboard for the first quarter of 2012, with Skandia in second place and Standard Life in third.

Alliance Trust Savings cautions against advisers delaying platform review

Alliance Trust Savings has encouraged IFAs to push ahead with a review of their platform strategy amid rumours of RDR delays.

Read the full article on Myintroducer.com

Adviser use of multi-manager funds soars in Q1

Fewer financial advisers are picking individual funds for clients, while the use of multi-manager funds rocketed during the second quarter of the year, research by the Platforum has revealed.

Read the full article on Fundweb

Cofunds rolls out client segmentation plans

Platform Cofunds has written to advisers with details of its client segmentation model post-Retail Distribution Review (RDR).

Sargisson on a mission to revive James Hay’s fortunes

James Hay’s Tim Sargisson is confident the provider’s recent revamp will boost business.

Advisers urged not to neglect platform reviews amid FSA paper delay

Advisers should push ahead with platform strategy reviews amid concerns the delayed platform paper could see them “take their foot off the pedal”, Alliance Trust Savings has warned.

Photiou quits Mercer for Barclays’ corporate benefits arm

Barclays Corporate & Employer Solutions (C&ES) has appointed former Mercer partner Katharine Photiou as the bank looks to grow its corporate consulting business.

Read the full article in Money Marketing

7IM: Third party model portfolios threatened by FSA rules

The Financial Services Authority needs to provide clarity over how agreements between discretionary fund managers, advisers, and their clients should be structured to help IFAs avoid falling foul of new regulations, according to Seven Investment Management boss Tom Sheridan.

Standard Life council aims to placate IFAs

Standard Life has launched a customer communications council to create more involvement from the financial adviser community.

Read the full article on FTAdviser

Thesis to launch seven-strong model portfolio range

Thesis Asset Management is to launch a seven-strong range of risk-rated model portfolios as it looks to capitalise on growing adviser demand for outsourcing options.

Read the full article on Citywire

Adviser could pay price for share class confusion

Advisers risk being liable for unnecessary costs to clients if they recommend the wrong share class, a mistake made more likely by the proliferation of share classes bought about platform regulation, according to a legal expert.

Alliance Trust platform eyes IFAs

Platform shifting focus to advisers, claiming flat fee approach will appeal to RDR models.

Read the full article on FTAdviser

James Hay Sipps under administration fall as 'attrition' bites

IFG Group says high attrition levels resulted in a small drop in Sipps under administration to 37,956 between December and April.