Nucleus: Leave pricing till last when performing platform due diligence

Advisers are being urged by Nucleus to adopt a phased approach to platform due diligence ahead of the introduction of new rules on 6 April, with pricing ranked as the least important consideration.

The most efficient approach to performing due diligence in platform selection is to first examine the client proposition and consider whether the platform can support it, according to a white paper released by the wrap platform. "Only then should advisers consider how the platform evidences its regulatory obligations," the paper states. Next they should determine the sustainability of the business model. Service quality and relationship management should then be considered, followed by a review of the tools and functionality of the platform. Pricing should come last; once the first fo...