Close to all advisers forced to apologise for poor platform service
Parmenion’s 2024 ‘The Impact of Poor Platform Service’, reveals worsening service
The Lang Cat
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Quilter tops lang cat’s advised platform sales chart as industry outflows rise
Total outflows up 30.4% year on year
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One year of Consumer Duty: Industry grapples with advice gap amid added requirements
Research from the lang cat and Octopus Money shows move away from smaller clients
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Six advised platforms grab 60% of new business – Lang Cat
Gap between the largest platforms and their smaller rivals is growing
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The Lang Cat: Advised platforms suffer record outflows in 2023
Outflows increased by 36.3% compared to 2022
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Polluter pays framework ‘counterproductive’- Industry reacts to FCA proposals
As personal investment firms will be expected to set aside capital to cover compensation costs
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91% of advisers say poor platform service impacts their day-to-day work
With one adviser stating they are ‘sick of useless service and systems’
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Advised platform outflows reach record high
Contributing to hardly any asset growth for advised platforms
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Advisers switching fee structures in reaction to Consumer Duty fair value
With 3% of firms still in noncompliance
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Insurance provider rolls out platform offering PII for advisers
To empower firms to better evidence their individual risk resulting in fair and stable premiums
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93% of advisers think property wealth should be part of retirement planning
With 31% not considering home equity at all
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Advised platform net sales hit all-time low
As outflows rise to their highest quarterly level