UK COVID-19 impact survey reveals third party flaws

In the UK a Financial Adviser survey on the impact of COVID-19 on advisers’ working practices has uncovered signs of discontent with the service proposition offered by third parties, such as platforms.

According to a report by FT Adviser opinion was somewhat divided on how the pandemic had influenced work flow, with 50% of advisers stating their workload was either lower or much lower than usual, but 30% saying it was higher or significantly higher.

Despite tumbling markets and widespread upheaval, 23% of advisers said their workload had remained about the same.

The survey of 296 advisers, conducted during the first 10 days of April, also revealed advisers are largely coping well with their new circumstances from a technological perspective – but found many were nonetheless looking again at the product providers and platforms they use.

Full FT Adviser article