Navigate the complexities of platform selection
Platforms are rarely the main event in the advice process – but when they don’t work, they get noticed. Poor functionality, clunky admin, or lack of flexibility can quietly erode client outcomes over time.
“Still working” doesn’t mean “still suitable.” Platform due diligence isn’t about finding perfection, it’s about ensuring the platform still supports the way you give advice. Properly. Efficiently. And in a way that meets both client needs and regulatory expectations.
Our platform and provider due diligence service is designed to help you do exactly that, with a process that’s structured, thorough, and tailored to how your firm operates. Whether you're benchmarking your current platform, reviewing options as part of a wider shift in your centralised investment proposition, or documenting a switch already in motion, we provide the evidence, clarity, and analysis to support your thinking.
We’ve supported dozens of firms through platform due diligence exercises, and the one thing we hear time and time again is, “We should have done this years ago.”
No two firms run their CIP in quite the same way, so we begin by understanding how you work. What functionality do you rely on? Which wrappers matter most? Are you using a DFM? Do you need specific planning tools or integration with back-office systems?
We then use this to filter the platform market, removing any that don’t meet your minimum standards in terms of tax wrapper availability, investment access, client flexibility, or core functionality. There’s no point comparing providers that were never going to work in the first place.
We then look at the areas that actually impact your day-to-day planning process:
- Can the platform accommodate your typical client needs, from accumulation to complex decumulation strategies?
- Does it support your models or DFMs properly? Is it whole of market? Can you run off-platform strategies?
- Is the tech up to scratch? Does it support rebalancing, phased drawdown, trust administration, adviser charging?
- What’s the track record for administration? How responsive is support? Are valuations, CGT reports and income summaries accurate and easy to produce?
- What are the costs? how do they compare to alternative solutions across a range of client types?
- We also consider ownership, regulatory history, and performance in independent service ratings.
We bring all of this together in a clean, clearly presented due diligence report that highlights the practical differences between your shortlisted platforms. It’s written in plain English, backed by evidence, and structured to support both internal decision-making and external compliance requirements.
Yes, our due diligence helps firms meet PROD and MiFID II requirements. But more importantly, it gives you confidence in the platform you're recommending. Confidence that it’s fit for purpose, aligns with your financial planning process, and can be relied on to deliver the service your clients expect.
Whether you're reviewing your centralised proposition, benchmarking a legacy platform, or simply unsure whether your current selection still meets client needs, we can help bring clarity to the process. Click below to get in touch.
