Some of the original platforms have spent very little time evolving their propositions in recent years and are ill-equipped to respond to the changing needs of advisers. Ultimately, it is the end consumer that suffers from this underinvestment.
If the industry innovates (as some DFMs and platforms have done), clients get an improved service delivered at low platform costs. We all need to keep up the pressure to ensure we provide the best value for clients.
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Lawrence Cook is director of marketing and business development at Thesis Asset Management.
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