IFAs face due diligence struggle on platforms

CWC research shows advisers struggle to perform adequate due diligence work on prospective providers when researching platforms for their clients

The majority of advisers struggle to perform adequate due diligence on prospective wrap platform providers, according to CWC Research's latest survey. Conducted in association with BNP Paribas, the research revealed many are unsure how to examine the advantages and drawbacks of different providers, especially when it comes to financial strength. The FSA's platform discussion paper last year highlighted the need for advisers to investigate their options fully before choosing potential partners. "IFAs are expected to carry out platform due diligence but most do not know how," explained ...