If a client asks us questions about the investment process, we know it’s a pretty safe bet that others will have similar questions. So when we were recently asked to explain wrap platforms we thought we’d take the opportunity to share this short explainer.
What’s a platform?
A platform, otherwise known as a ‘wrap platform’ is an online investment portfolio where all of your investments are ‘wrapped up’ together in one place online. You can have one or more accounts in your platform and you can add new ones at any time as you work with your Abode Financial adviser to reach your financial goals.
Why do you work with platforms at Abode Financial?
The platforms we use are secure, offer good value, great service and make it really easy for our clients to engage with their investments. The online experience isgreat – you can see everything on simple dashboards, access historical information, see the latest statements etc. We find our clients really value this – it’s so much easier than having multiple accounts to check in on.
They also mean that fees are kept lower and are completely transparent. You don’t have to go searching to see charges – they’re all right there on the dashboard or in quarterly ‘Costs and Charges Statements’. Clients love this simplicity and that’s very important to us at Abode.
The ease of getting tax information at tax return time is also hugely valued by our clients – it’s all presented in a really simple way, alleviating the need to dig for information at a busy time of year!
Does the platform company recommend funds in my investment portfolio?
No, think of the wrap platform almost as an administrator and provider of a secure and seamless online service.
When you start working with us, we’ll recommend a portfolio that will help you reach your financial goals. It may be that we involve a Discretionary Fund Manager who will then manage the portfolio within the platform, or we will make changes when required after discussing it with you
How do they keep my money safe?
It goes without saying that we put a lot of time and diligence into choosing the right platforms for our clients, and they are of course, all regulated by the Financial Conduct authority (FCA). Before we start working with a platform provider, we’ll look deeply into the platform’s:
- Financial strength and sustainability
- Breadth of their offering
- Range of investments
- Environmental, social and governance credentials (ESG)
- Online platform experience
- Customer service
- Fees
And only when we are satisfied that they are the very best, do we we start working with them.
Platform solutions aren’t suitable for everyone. Whenever this is the case, we will work with you and organise a suitable alternative.
Offering our clients secure, simple and effective investment solutions is our focus. We hope this explanation of wrap platforms was helpful. Jargon busting, and keeping things simple are key to how we work, so if there’s anything else you need to know, contact us
Investment risk information
Please note, the value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
This information is for general information only and does not constitute advice. The information is aimed at retail clients only.
Past performance is not necessarily a guide to future performance
