Financial services consultancy the lang cat has launched Platform Analyser, an online tool and insight service to simplify the investment platform selection process for advisers.

The new RegTech service combines the lang cat’s data set - covering 11,500 data points across 25 advised platforms - with an interactive tool built with the Product Intervention and Product Governance Sourcebook in mind. Advisers can interrogate the data in different ways to create quick comparisons and full due diligence reports, automatically documenting the process to demonstrate regulatory compliance.

Terry Huddart, head of proposition at the lang cat, commented: “We spend a lot of time speaking to advice professionals and they told us they’d like a service to help make choosing the right platform partners for their clients and their business easier.

“Over the last eighteen months we’ve been working closely with advisers and planners to build an online tool that combines our unrivalled insight into the advised platform market with interactive due diligence functionality,” he continued, adding: “Initial feedback from our adviser testing panel has been positive about how much time and effort the service can save in terms of platform due diligence.”

Richard Allum, managing director of The Paraplanners, added: “Platform Analyser has already helped us with quick price and proposition comparisons and will make our due diligence process much more efficient.”

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