The industry has 'over-invested' in platforms, says eValue founder Moss

Advisers and consumers should ask ‘critical questions' about whether the experience of using platforms justifies the additional costs and complexities involved, according to Bruce Moss, founder and strategy director at eValue.

Platforms "absolutely" have a place in the market, he said, but the industry has "over-invested" in the past and clients should question their necessity when they are used for transactions and custody. Moss, speaking at a roundtable discussion in London on Wednesday, said: "I have a view that the industry has over-invested in platforms. Are they really adding enough to justify the extra costs? A lot of new propositions are coming to market but are there enough assets going around to make them commercially viable? "My own view is that platforms absolutely have a role to play but I also...