In simple terms, a platform is an IT solution that allows clients to consolidate their investments and manage these in one place. In reality, a platform is a service rather than a product.
A platform includes the following features:
- A single fee from the platform across all accounts and transparency of costs
- Reduced paperwork and simplified administration
- A wide choice of investment funds
- Access to tax wrappers with no or low charges, such as ISAs, pensions, general investment accounts, onshore bonds and offshore bonds
- Consolidated valuations and taxation reports, making holistic financial planning easier
- Access to online valuations