Speaking to Financial Planning Today magazine for Issue 5, Financial Planners, Paraplanners and analysts got their platform gripes off their chests, with outdated technology another complaint.
Radostina Dencheva, Chartered MCSI Investment Analyst and Chartered Wealth Manager at Chadwicks in Norwich, said: “One of our main frustrations around the platforms we are dealing with revolve around service levels, which have, to an extent, deteriorated over the past two or three years.
“Part of this could be explained with platforms getting bigger and undergoing internal structural changes but we feel maintaining good service throughout this should be put significantly higher in the priority order – in fact, most platforms can benefit from a shift to a more service-centric culture."
Chartered Financial Planner Jo Hague CFPTM, Chartered MCSI, a Paraplanner at Investment for Life in Doncaster, said: “I know that general poor services levels are an issue to lots of advisers.
“Some of them have experience of a platform that offers brilliant service to them and their clients and then they use another who might not offer the same level of service.”
She said: “One of the problems I find is the lack of uniformity across platforms. Wouldn’t it be useful if there was a list of common functions that were included in each platform?”
Mathew Leech, wrap administrator at Lifetime Financial Management in Barnsley, said: “Our main complaints or frustrations come from the platforms’ general usability, such as ease of use and functionality, the layout and positioning of everything and access to information.
“Problems that affect daily work life are the long processes of some applications, and the lack of information available regarding the status of transactions that we have made previously.” He wants to see advancements in technology, saying some platforms seem “really outdated”.
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The latest issue of Financial Planning Today, our new 40-page magazine for Financial Planners and Paraplanners, is now live online to all readers.
The new publication features exclusive content, including contributions from leading figures in the worlds of Financial Planning, Paraplanning and Wealth Management, plus features and insights produced by experienced financial journalists.
Financial Planning Today's latest issue highlights include:
• A Special Report examining platforms and gripes about poor service levels
• Columns from high profile Financial Planner Julie Lord, PFS chief executive Keith Richards, CISI deputy head of Financial Planning Jackie Lockie and leading Financial Planner Martin Bamford
• Plus, popular regular features including Planner Casebook, Inside My Business with Ray Adams of CashCalc, Financial Planning and Paraplanning news and much more
• Special Offer for FP Today Readers from CashCalc
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Feedback on the new magazine has been excellent with well over 4,000 people reading the first four issues and the number rising steadily.
Financial Planning Today Publisher and Editor Kevin O’Donnell said: “We're delighted to make available issue 5 and we hope the content will be invaluable to professionals. There is a wealth of insight, expert knowledge sharing, news and comment plus many busness tips and ideas to help Financial Planners do an even better job and build on their professionalism.
"We have designed Financial Planning Today magazine to be an essential publication for all professional Financial Planners, Paraplanners and Wealth Managers and we'll be announcing some exciting developments for 2017 soon."
For editorial enquiries please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. For advertising enquiries, including recruitment advertising, please contact: This email address is being protected from spambots. You need JavaScript enabled to view it. or 01895 678629.