Will sunset clause finally accelerate platform switching?

Advisers are likely to consolidate their platform usage once the sunset clause comes into force, but face problems when it comes to tracking down less active clients.

The typical adviser still uses more than one platform for clients, but the arrival of the sunset clause is likely to shake up this practice. However, Mark Polson (pictured), founder of the lang cat consultancy, expects advisers will consolidate these into one once the sunset clause, banning commission payments for legacy platform business, is in place as of April 2016. "The move to adviser charging will see firms tidy up their various platforms they are using. The number will trend downwards as advisers consolidate which will be beneficial to the market," Polson said. "Switching pl...