Advisers Urged to Revise Platforms as RDR Looms

The constant alteration of platform prices and propositions needs to be properly monitored by financial advisers if they are to be properly prepared for the upcoming RDR regulations according to a platform analyst for MarketWatch. In a a research paper, Colin Turton commented that "The market is moving very fast and we cannot see how anything less than an annual comparison would be acceptable to the regulator." He says that advisers should not switch platforms annually, but should constantly monitor developments to ensure that they have the right platform for them. He adds "We do not think IFAs are going to be moving from one platform to another year in year out, but if you are leaving a client in situ, you still need a review that says 'we have looked at charges, the charges have moved, but on balance the client is in the right place for these reasons'."
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