40% OF ADVISER PLATFORM RESEARCH INCLUDES PROVIDER RATINGS Research from Capita’s financial software business has found that up to 40% of the research conducted by advisers for platforms utilises provider ratings. Financial strength ratings from AKG Actuaries and Consultants were added to the Synaptic Research suite in December and, along with service ratings from The Platforum, enable advisers to meet the FSA’s requirement to consider the reputation and financial standing of platform operators. Analysis showed that between 1st December 2010 and 1st March 2011, 1682 pieces of platform research were conducted using Synaptic Product Research. Over this three month period, 40% of adviser research included The Platforum service ratings and 34% used AKG’s platform financial strength ratings. Product Director, William Watling, commented: “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. “Following recent FSA publications surrounding platforms, it’s important for advisers to take a more thorough approach to wrap research, considering all aspects. Including both quantitative and qualitative data demonstrates that the FSA’s recommendations have been taken on board.” The Platforum service ratings are also included in Capita’s platform comparison and due diligence service, Synaptic Comparator, which was launched in July 2010. Holly Mackay, Managing Director, of The Platforum, added: “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. 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 which is scheduled for release in this year. Further enhancements are planned including the addition of ‘off platform’ investments for comparison, to help advisers fulfil the FSA’s recommendation to consider these products where appropriate. Capita Financial Software and The Platforum will both be presenting at the Platform Due Diligence Event, sponsored by AXA Elevate, at The Tower of London on 9th June 2011.
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