Wraps
We have recently published a Discussion Paper on platforms. Platforms are online services, used by intermediaries (and sometimes consumers directly) to view and administer their investment portfolios.
As well as providing facilities for investments to be bought and sold, platforms are often used to arrange custody for, customers’ assets.
Platforms can bring benefits for both firms and consumers, if they are used to support improvements in the quality of advice and administration that consumers receive. However, using them may also lead to increases in complexity and costs to consumers, without necessarily creating benefits in return.
We want to ensure that platform use benefits consumers, and that our regulation does not act as an unnecessary barrier to further growth, competition and innovation in the platforms market.
We have produced a factsheet that gives more information on what to consider when adopting and using platforms, such as:
- changes you may need to make to your business operations;
- how your training and competence requirements may need to change;
- how to decide if a platforms is suitable for a customer; and
- what to consider if you want to use platforms and stay independent.
Factsheet: Platforms: using fund supermarkets and wraps [PDF]