The Financial Conduct Authority (FCA) expects all financial advisers to carry out a thorough and effective due diligence process when selecting a platform on which to place their clients’ investments, and to evidence the reasons for the decision.
There are real benefits from this process for both you and your clients. Most importantly it helps ensure that your clients receive the best possible outcomes for their needs. It alsohelps ensure that the platform or platforms you select complement your financial planning process and brings efficiencies to your business.
The FCA has issued two papers about due diligence, which provide basic guidelines on the topics advisers should explore when assessing a platform’s suitability. Links to these papers are at the end of this page.
How we can help you
To support you with your platform selection and ongoing due diligence requirements, we have a suite of literature about our platform, all in one place, which you can use within your reports. This is based around the nine FCA-prescribed topics for due diligence, and we have addressed the questions we are most frequently asked by advisers and independent due diligence providers. Statistics that compare our platform against others are sourced using information from independent due diligence tools.
Detailed factsheets are available for our most frequently-used financial planning tools, which explain the methodology behind them and can reassure you of their reliability as part of your financial planning process.
Whether you are new to Old Mutual Wealth’s platform, or are carrying out a platform due diligence review, the following documents will help you:
If there is a question you would like to ask that is not covered in this material, please email it to firstname.lastname@example.org.
Links to the FCA’s due diligence papers: