Platforms are the perfect answer to RDR, says London & Colonial
03/12/2012 | Download PDF
As advisers contend with the issue of proving value to their clients in a post-RDR world, platforms continually come up trumps, says London & Colonial.
The UK and offshore pension provider believes platforms will increase in popularity going forward as more and more advisers start to recognise their benefit in helping to meet RDR regulation.
Adam Wrench, head of product and business development, said:
“December 31st is fast approaching and with it will come the arrival of sweeping change which will doubtlessly, and radically, alter the face of the financial services industry forever”.
“A lot is being asked of the RDR, with the aim that it will lead to the re-establishment of an investment market far more efficient and attractive to investors and the re-emergence of a fairer more neutral playing field for the consumer. As such, it is imperative that advisers get up to speed and ensure that their offering is totally aligned to the new regulations.”
London & Colonial says platforms offer advisers the ability to effectively monitor and administer their clients’ investments online and with the added benefit of being able to switch their investments around, without the need to pay additional charges or deal with numerous different fund managers. Furthermore, platforms will also allow them to ensure that their charging is adequately transparent as required under the new legislation.
Adam Wrench said:
“Many advisers have already looked at and refined their business models and propositions in light of the forthcoming RDR and those that haven’t should certainly do so. In a post RDR world, any adviser seeking to label themselves as independent should be offering a wide-ranging and fair analysis of the investment market, and with the FSA having already stated that it is unlikely that advisers using only one platform could maintain independence, as well as being highly improbable that the use of one single platform would meet all clients’ needs, an alternative solution is required”.
London & Colonial offers two products which are suitable to address these concerns and help advisers going forward, in the form of its new Multi-Platform SIPP and Multi-Platform Open Annuity, both of which offer a broad mix of investments, service features and costs.
“The ideal solution has long been identified as one which acts as a ‘one-stop shop’, enabling multiple asset classes to be put under one roof and giving investors as much freedom and choice as possible.”
For more information about these two new Multi-Platform offerings, or any of London & Colonial’s other innovative products, please visit their website at www.londoncolonial.com, or speak to one of their dedicated IFA Support Team on 0203 640 6840.
Notes to Editors:
About London & Colonial
London & Colonial specialises in self-invested products for both UK residents and persons resident overseas.
The London & Colonial Group includes
(1) London & Colonial Holdings Limited – UK parent company
(2) London & Colonial Services Limited which is regulated by the UK Financial Services Authority and operates SIPPs and SSASs
(3) London & Colonial Assurance PLC which is regulated by the Gibraltar Financial Services Commission (matching UK standards) and which offers Open Annuities, QROP Annuities and Open Offshore Bonds
(4) L&C (Administration Services 2) Limited and London & Colonial (Trustee Services) Limited which are both based in Gibraltar and offer the EU SIPP.