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

The Rapidly Evolving Platform Market

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ADVISED

DIRECT

Platform Market – More complex than ever

CORPORATE

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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

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We have been lazy about categorizing Adviser Platforms

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Fund Supermarkets Wraps

Is it a supermarket or wrap?

IRRELEVANT

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Is it a Life company platform?

Life Companies “Independent”

PLATFORMS ARE THE

MODERN PROVIDERS

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Who is the platform operator or provider?

“Provider” Platform “Distributor” Platform

GROWTH OF

DISTRIBUTOR-

MANAGED

PLATFORMS

Is it a vertically integrated platform?

Cross-Sellers “Pure” Platforms

WILL PLATFORMS

BECOME JUST A COST

CENTRE?

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Direct, Intermediary or Workplace?

Adviser Only Multi Channel

CAN AN IFA-ONLY

PLATFORM BUILD

REQUIRED SCALE?

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Hot Regulatory Topics

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What’s on the agenda?

• Pricing• Due Diligence• CIPS• Single platform use• On/off platform

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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)

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A look to the future

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Margin pressure• PSF CONFERENCE

24,000 X 417 = 9.8m

18,000 X 101 = 1.9m

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D2C meets advisory • PSF CONFERENCE

Total platform AUA will hit £500bn by Q4 14

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Worlds are coming together

SIPP Platform

DB Workplace Savings Platforms

Advised Direct To Consumer

Fund manager Platform

Fund manager Financial adviser

Retail Institutional

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