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What’s in a name? Is Independence necessary or desirable post RDR?

What’s in a name? Is Independence necessary or desirable post RDR?. Holly Mackay - MD, The Platforum David Ferguson - CEO, Nucleus Financial Group. • PSF CONFERENCE. The Rapidly Evolving Platform Market. B2C. • PSF CONFERENCE. Platform Market – More complex than ever. CORPORATE.

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What’s in a name? Is Independence necessary or desirable post RDR?

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  1. What’s in a name?Is Independence necessary or desirable post RDR? • Holly Mackay - MD, The Platforum • David Ferguson - CEO, Nucleus Financial Group

  2. • PSF CONFERENCE The Rapidly Evolving Platform Market

  3. B2C • PSF CONFERENCE Platform Market – More complex than ever CORPORATE DIRECT ADVISED

  4. • PSF CONFERENCE How have platforms helped advisers • Up-to-date valuations • Model portfolios • Vanilla tax wrappers • Centralised cash account • B2B2C • A clearer idea of a cost base • Improved services to clients • Business valuation multiples

  5. • PSF CONFERENCE We have been lazy about categorizing Adviser Platforms

  6. • PSF CONFERENCE Is it a supermarket or wrap? Fund Supermarkets Wraps IRRELEVANT

  7. • PSF CONFERENCE Is it a Life company platform? “Independent” Life Companies PLATFORMS ARE THE MODERN PROVIDERS

  8. • PSF CONFERENCE Who is the platform operator or provider? “Provider” Platform “Distributor” Platform GROWTH OF DISTRIBUTOR-MANAGED PLATFORMS

  9. • PSF CONFERENCE Is it a vertically integrated platform? Cross-Sellers “Pure” Platforms WILL PLATFORMS BECOME JUST A COST CENTRE?

  10. • PSF CONFERENCE Direct, Intermediary or Workplace? Multi Channel Adviser Only CAN AN IFA-ONLY PLATFORM BUILD REQUIRED SCALE?

  11. • PSF CONFERENCE

  12. • PSF CONFERENCE Hot Regulatory Topics

  13. • PSF CONFERENCE What’s on the agenda? • Pricing • Due Diligence • CIPS • Single platform use • On/off platform

  14. • PSF CONFERENCE A due diligence checklist • Terms and conditions of using the platform • Charges – including actual cost, charging structure and transparency of charges • Ranges of funds, tax wrappers and other products available • Range of asset classes • Functionality (e.g. The ability to switch or re-register off platform or record legacy assets) • Accessibility • Additional tools (e.g. Risk profiling and asset allocation tools ) • Support services (e.g. Help facilities and training)

  15. • PSF CONFERENCE A look to the future

  16. • PSF CONFERENCE Margin pressure

  17. • PSF CONFERENCE 24,000 X 417 = 9.8m 18,000 X 101 = 1.9m

  18. D2C meets advisory • PSF CONFERENCE

  19. • PSF CONFERENCE Total platform AUA will hit £500bn by Q4 14

  20. Worlds are coming together • PSF CONFERENCE Institutional Retail Platform SIPP DB Workplace Savings Platforms Direct To Consumer Advised Fund manager Platform Financial adviser Fund manager

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