Choosing a platform - Season 2, Episode 5
The Meaningful Money Personal Finance Podcast
Pete Matthew
4.9 • 1.7K Ratings
🗓️ 3 August 2016
⏱️ 25 minutes
🧾️ Download transcript
Summary
Last week we talked about asset allocation and choosing the right kinds of assets and funds to invest for your future. These days, most people invest via something called a platform. This week I’ll be looking at why that is the case, whether or not that approach is right for you, and what criteria you should look at when choosing a platform.
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Choosing a platform
Now I have looked at platforms before in Season One of this show. Listen back to Sessions 11 and 75. These will give you some more depth if you want to add to today’s session. But by the end of today’s episode, you should be have everything you need to know and everything you need to do to when choosing a platform.
In this session, you'll discover:
- What a platform really is
- How to choose one over the other (hint: it's pretty subjective)
- The key differences between adviser platforms and direct to consumer (D2C) platforms
- Why you should do your homework before choosing your platform
- The charges you need to look out for
- Why it's OK to dip your toes in and try a platform out...
Resources mentioned in this week's show
Podcast: Season 1, Session 11 - Platforms, Wrappers and Funds Podcast: Season 1, Session 75 - Direct Investment Platforms with Mark Polson Podcast: Season 1, Session 125 - The Rise of the Robo-Adviser, with Al Rush Download: Pricing guide to direct platforms, from The Lang Cat
Previous episodes in this season
Podcast: Season 2, Episode 1 - Why Invest? Podcast: Season 2 Episode 2 - Risk, Volatility & Timescale Podcast: Season 2 Episode 3 - Know Yourself: Risk Tolerance & Risk Capacity Podcast: Season 2 Episode 4 - Practical Asset Allocation Try Audible for Free
Free email course - Learn How To Invest
And of course, there is a full transcript available by clicking the big blue button below:
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Question: Have you chosen a platform? What made up your mind which to use?
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Transcript
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| 0:00.0 | Hi folks and welcome to the Meaningful Money podcast Season 2, Episode 5. |
| 0:04.3 | Excuse me, sir. Can you tell me where I might find platform 9 and 3 quarters? |
| 0:08.3 | Nine and three quarters? I think you're being funny, do you? |
| 0:14.8 | This is the podcast dedicated to helping you put your finances in order. My name is Pete Matthew |
| 0:22.9 | and I'm going to share with you everything you need to know and everything you need to do to secure |
| 0:27.2 | your financial future. I'm here to help you make sense of money. |
| 0:41.0 | Here we are once again. |
| 0:42.6 | Great to have you with me, folks. |
| 0:43.6 | Hope you're doing okay. |
| 0:46.0 | The weather is horrible outside as I record this, |
| 0:49.0 | but, you know, happy in my heart. |
| 0:52.3 | So not on the script. |
| 1:11.2 | I hope you're doing really well, though. My mind is slightly elsewhere because today my house starts to get knocked down, putting an extension on my house, so half of it is getting knocked down and we're trying to live in the other half while we do it. It's going to be a challenging few months, but maybe I'll put some pictures on the website as it starts to go out. But anyway, great to have you with me. |
| 1:17.0 | Last week we talked about asset allocation, choosing the right kinds of assets and funds to invest for your future. |
| 1:21.2 | These days, most people invest via something called a platform. |
| 1:23.4 | That's definitely the case here in the UK. |
| 1:26.9 | We are slightly behind some parts in the world. |
| 1:29.6 | I know that platforms in Australia, for example, |
| 1:34.9 | have been a thing for, I think, longer than they have been here. In the US, it's different again. |
| 1:39.6 | I'll allude to that a little bit later. But this week, I want to look at why people invest using a platform, whether or not that's the right approach for you and what criteria you should |
| 1:43.0 | look at, what things you should look at when you're choosing a platform. So as usual, after we've done that, |
| 1:48.8 | I'll look at the recent reviews that have been left. We'll take just a couple of minutes out in the |
... |
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