larger businesses that have investment platforms – for example, Citadel, Old Mutual Wealth and PSG.
Kop says if advisers in these practices recommend a platform within the business or its wider group of businesses, the adviser should still be able to justify to you why he or she is recommending that platform.
In terms of the Financial Advisory and Intermediary Services Act, an adviser must tell you how much he or she earns from a particular product provider, including an investment platform.
You should also ask whether the adviser has contracts to place investments on other platforms or directly with certain asset managers and whether he or she will advise you on any of your existing investments that are not on the platforms they recommend. – Laura du Preez