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Platforms securing their legacy
Investment platforms have helped transform retail financial services. Ian Taylor of Transact explains why their future is secure.
Depending on the way an investment platform is defined, and whose numbers you believe, platforms look after about £400bn in assets and are the route followed by something like 85% of all advised retail investment business. Given that this has all been achieved from a standing start in 1999, platforms have undeniably created a significant sea change in UK retail financial services.
Platforms have firmly established themselves as part of the retail financial services infrastructure, having helped to make administration, execution and pricing much better for everyone. Now the retail investment market is undergoing another major phase of change as financial advisers and wealth managers adapt their business models to compete in a changing regulatory and digital market.