Advisory platforms 'to halve after 2017' as competition heats up

The number of platforms targeting advisory firms is likely to halve after 2017, according to Standard Life's David Tiller.

Tiller (pictured), who is the firm's head of platform propositions, said many platforms are upgrading their technology but, from 2017 onwards, the space will become increasingly competitive. This could lead to firms differentiating their business propositions to stand out in a crowded market.  Tiller said: "You will see fewer firms focusing on the advisory sector as this is the most complicated and most expensive in terms of technology. The number of platforms focusing on advisory firms is likely to halve." Instead, providers could opt to focus on alternative areas such as D2C or w...