With Embark confirming it is following Transact down the IPO trail and AJ Bell and Nucleus reported to being thinking similarly, Tom Ellis looks at what lies behind the sudden bout of floatation fever sweeping the platform market
Since Axa sold Elevate to Standard Life in May 2016 and Legal & General parted with Cofunds for a hefty fee in August 2016, little merger and acquisition (M&A) business has taken place in the adviser platform space, despite many commentators continually predicting big developments. So, after more than 18 months of inactivity, why the sudden IPO craze? For Bella Caridade-Ferreira, it is evidence the market is growing up. "It's a sign that platforms are here to stay and are an integral part of delivering financial services in the UK," she says. The Fundscape CEO reckons advisers should ...
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