Guide to the evolution of platforms

Platforms have evolved from ‘fund supermarkets’ into essential tools for financial advisers, driven by regulations like the Retail Distribution Review and consumer duty.

These changes have enhanced transparency, innovation, and customer outcomes, while enabling advisers to streamline operations and bridge the advice gap.

Consolidation is reshaping the market, creating larger platforms with improved technology and scalability, though risks like reduced choice and service disruption remain.

Platforms now combine automation and compliance tools to support advisers, helping them serve more clients efficiently.

However, platform exits and technology migrations present challenges, requiring advisers to conduct careful due diligence.

This report is worth 60 minutes of CPD.