The lang cat has added a new capability to its due diligence and research tool Analyser to make it easier for advisers to compare and research platform transfer times and processes.
STAR transfer participation and accreditation data will enable advisers to consider transfer performance alongside hard facts like scale, financial strength, price and functionality as well as factors like service and past user experience when researching and comparing platforms.
The new addition makes Analyser the first independent adviser research and suitability tool to include STAR datapoints across ISAs, GIAs and personal pensions including SIPP and SSAS.
It builds on Analyser’s existing coverage of whether a platform is a member of the Origo Options Transfer Service.
Terry Huddart, digital director at the lang cat, said: “A lot of client money moving onto, or between, platforms happens via transfers, and time lags or lack of clarity can be frustrating for advisers and clients. It’s an area advisers have little direct control over. The client experience depends on the ceding and receiving providers, and the wider industry mechanics, working well.
“We’ve reviewed STAR’s accreditation process and think it’s a thorough one. It assesses transfer speed and best practice at product level, with providers awarded a specific band of accreditation rather than a simple pass or fail. It helps shine a light on this important part of the market, and rewards those going further on transparency and performance.
“Bringing STAR’s accreditation ratings, and the level each provider has achieved, together with Origo membership in Analyser gives advisers a fuller picture of how providers perform on transfers.”
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