AKG is delighted to announce the launch of a new International Platform sector, complementing work done in the existing Provider, Offshore, Platform and DFM assessment sectors.
This new sector will seek to cover companies positioned as international platform operators or as providing an integral component of an international platform service operation. i.e. companies that might be seen to compete in the delivery of international platform services and capability. Ratings can be viewed within the AKG Rating Portal.
Whilst AKG anticipates that this will initially be a relatively narrow sector in terms of the number of international platform operators covered, it will inevitably evolve (as our other sectors have done over time) and AKG will look to add further entities into the mix during 2021/22 as the market develops and existing and new companies fall into scope.
In terms of background, it is a development that comes out of initial consideration of some international platform activity as part of AKG’s established assessments of platforms operating in the UK (something that we’ve been doing for over 10 years now), highlighting key distinctions between the two, including relative youth (of concept/proposition) and a focus on multi-currency functionality in the international market.
But the development also results from some key market dynamics within the international financial services arena that sees:
These drivers indicate a growing role for those platforms, whom within this context can provide solutions to meet the requirements of advisers and their clients in international financial advice settings.
As is the case in the UK, financial advisers operating in international markets, as they increasingly consider adopting platform technology, should give consideration to the financial strength of platform operators that they might use amongst a range of key due diligence factors. Thus they can plan to meet regulatory and/or best practice responsibilities as well as considering the risks to their businesses.
Consistent with our approach across assessment sectors AKG’s ratings are designed to provide expert, independent support to intermediary firms who are seeking to give due consideration to financial strength related factors when appraising entities within the market.