UK financial advisers slam platforms over service levels
Servicing is the ‘biggest driver of choice and the biggest source of frustration’
The Lang Cat
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Advised platform net sales down 49% year-on-year
‘All the same headwinds that faced investors last year remain’
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38% of Brits say lack of trust prevents them from seeking advice
‘Perception gap’ is a ‘big issue’ for the sector
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Will the Consumer Duty lead to an increase in advice fees?
Regulation is giving firms an opportunity to re-evaluate their charges
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73% of advisers not ready for Consumer Duty implementation
As 8% say they haven’t started working on the regulation
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Platforms may struggle into 2024, says Fundscape CEO
The research house finds only four grew their assets in 2022
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Copia Capital unveils Consumer Duty toolkit for advisers
It teamed up with the Lang Cat to help firms implement the regulation
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Q4 2022 ‘worst quarter’ on record for advised platforms
Total assets down £35bn year-on-year
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Tough 2022 takes toll on advisers’ bottom line
As 85% worry about rising operating costs
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Torrid Q3 sends platform investors ‘running for the hills’
Assets continue to slide as net sales hit lows not seen in over a decade
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Platform assets suffer fall as UK teeters towards recession
Providers set to move ‘into markets they’ve not been in before to help alleviate the pressure’
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Brits suffer £48bn retirement income deficit every year
Lang Cat calls on industry to improve regulation around equity release to fix the issue