IFAs to platforms: Your financial strength is key

A third of platform research carried out by advisers focuses on provider strength, suggests research from Capita.

Capita analysis of over 1,600 pieces of platform research carried out between December and March shows 40% included The Platforum service ratings whilst 34% used AKG's financial strength ratings.

Financial strength ratings from AKG Actuaries and Consultants were added to  the Synaptic Research suite in December.

"Integrating The Platforum and AKG's ratings into the Synaptic suite has been a great success and we believe including this data adds real value to advisers' research of the platform market," said product director William Watling.

As well as featuring in the Synaptic Research suite, The Platforum's service ratings are also included in Capita's platform comparison and due diligence system Synaptic Comparator which launched last July.

"The principal component of The Platforum Leaderboard is feedback and ratings from IFAs which include, amongst other criteria, ease of doing business; quality of reports and choice of funds and tax wrappers," said The Platforum managing director Holly Mackay (pictured).

"The service ratings help advisers to consider qualitative information, voted for by their peers, to accompany analysis of platform and wrapper features in addition to charging data."

Capita will add AKG ratings to Comparator in version 2.0, scheduled for release this year. Further planned enhancements include the addition of ‘off platform' investments for comparison.