Most of the firms we work with use platforms as part of their proposition, therefore most firms need to do their platform due diligence, but many struggle to know how to document this in a compliant way.
I attended the PA360 conference last month, my first post covid event(!), and sat in a really interesting discussion about platform due diligence chaired by Natalie Holt from the lang cat, in which speakers from Seccl, P1 and 7IM shared some interesting insight about due diligence, the latest technology they have created, and thoughts on where platforms are heading.
There were a lot of questions from the audience and it got me thinking about the questions that I normally get when I’m talking with advisers about their own due diligence.
So, I’ve pulled together an overview of how to get started, along with some of the common misconceptions below, to help you understand how to meet your regulatory requirements.
There are a number of factors at play here, from finding a platform that supports your clients, and you actually like working with, to documenting this in a way that meets your regulatory requirements. It’s this second part that we find firms most frequently struggle with.
Read more in our Nucleus article here.