Official Defaqto Guide to Platforms
Defaqto has published a free guide to platforms for the intermediary market entitled 'Decisions, decisions'.
March saw the publication of the Financial Services Authority's (FSA's) Retail Distribution Review (RDR) policy statement and this heralds a sea change in the distribution of retail investment products in the UK.
It has significant implications for the independent adviser market.
Regulation, as outlined in the policy statement, will be implemented from 1 January 2013. For many advisers, we are entering a period of decision making which will include the possibility of integrating one or more platform solutions in to their businesses. 2013 is not far away, so the time to act is now.
Defaqto's guide is designed to help advisers in their decision-making process when considering platform adoption, while at the same time helping to avoid falling foul of new policy in the future.
Author of the guide Fraser Donaldson and Insight Analyst - Funds said: "Although some platform specific policy is still to be ironed out, as detailed in the FSA's platform discussion paper DP 10/2, this should not be used as an excuse to delay any decision making. Our free guide to platforms is an essential tool for advisers who have, or are now, considering adopting a platform in to their businesses."
Mr Donaldson continued: "The FSA have made it very clear that platform advice will be a supervisory priority, and that unsuitable advice, weak systems and controls will result in tough regulatory action. This guide will help in navigating around the new policy."
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Areas covered by the guide include:
The current platform market;
The benefits of platform adoption;
Selecting platforms that suit both clients and the adviser business;
Retail distribution review policy and effect on platform selection;
Retail distribution review and platform discussion paper. What are the implications?
An overview of adviser platforms currently available in the market.
