Revealing platforms' profitability (and why it matters)

Revealing platforms' profitability (and why it matters)

Abraham Okusanya, author of an eye-opening new report on platform profitability, examines propositions' future viability and explains why advisers must incorporate it into their due diligence...

‘Nobody ever got fired for using IBM', or so the famous phrase goes. Yet it is precisely this kind of lazy thinking that is not only prevalent when selecting technology providers; it is common when selecting platforms too. To say that the FCA is obsessed with due diligence is an understatement. It is spending a considerable amount of time and resource conducting a thematic review into how advisers conduct due diligence on product and services. Let's face it, what many advisers refer to as platform ‘due diligence' is, in reality, little more than taking a few hygiene factors into accou...