Rayner Spencer Mills has launched its updated Platform Guide, adding platform financial strength ratings from consultants AKG.

The free Platform Guide allows advisers to review the top 13 platforms on the market. It also includes an overview of regulatory issues and detailed factsheets to allow advisers to compare platforms against each other.

Rayner Spencer Mills (RSM) provides specialist investment research services to the financial services industry.

According to RSM, firms should be driving the decision-making process backed by thorough research and due diligence. Factors that need consideration are financial strength, long-term commitment, technology and service support.

Geoff Mills, director at RSM, said: “Platform selection is not about who rates or reviews which one more than the other it is about individual firms agreeing their business needs in line with their client service proposition, then selecting the platform that delivers to those needs.

“Advisers are expanding their investment solutions utilising portfolios and DFM solutions but they want totally independent solutions unbiased from the platform operator or owner.”

Guy Vanner, AKG managing director, said: “The development of financial strength rating for this sector has resulted from research and requests indicating strong intermediary demand. This is understandable given the importance intermediaries rightly place on the robustness required in selecting platform providers as a partner to their developing business.”

The Platform Adviser Guide, platform factsheets and due diligence guide are available for free download at www.rsmgroup.co.uk