own platform

Foster Denovo considers own platform to cut charges

National advice firm Foster Denovo is looking at building its own platform to avoid passing on the costs of retail platforms to clients.

Roger Brosch, Chief Executive of Foster Denovo, said the firm has spoken to a number of platform companies with ‘pretty competitive pricing’ about the prospect of using a white labelled solution that would allow more control over the look and feel of the platform its advisers use.

“There is no immediate plans to do anything but we will have a look at that later this year just to see how it might work,” he said.

“We have been approached by a few businesses who would operate this “Intel Inside” style solution and some of them are quite interesting. We have not progressed anything yet but it would be of interest to a business of our scale.”

Currently Foster Denovo uses a panel of platforms which Brosch said is reviewed in light of changes to the market.

“We run a panel and it does change from time to time when one gets bought, There have been a few changes in the last 12 months or so and we will look closely at the impact that is going to have.” he said.

Read the full article on City Wire here.