This week's guest email is from AXA platform Head of Distribution, Andy Coleman, who contemplates politics, price and choice. This email represents his own views and not necessarily those of The Platforum.

This week has resulted in the country voting for change, and change is something anyone working in our industry has got used to over recent years - in particular in the platform distribution space. However, unlike many voters, I believe that IFAs know what they want and are well positioned to offer quality new model financial advice.

The expression new model adviser is no longer a cuss but an aspiration that is in reach of almost any adviser who has the business acumen to construct and follow a money management strategy and a client segmentation plan, and platforms will facilitate this.

However, three big issues remain unresolved in the platform space. They range from re-registration to pricing, functionality and investment choice.

The lack of universal re-registration is disappointing. Whatever the given reasons for holding off, re-registration must be introduced before 2012. The industry should have already solved this issue for itself, without the threat of regulatory intervention. The law was changed over a year ago to allow the in specie transfer of assets without a ‘wet’ client signature but it still isn’t benefiting clients.

The second big issue is less definitive, but still important. For me it’s about getting the balance right between economics and ‘wikinomics’. In this context it’s about getting the price right. In a 1% world platforms operate on a low cost basis, but it must still be economically viable. The demanding terms some IFA firms demand may will affect the viability of some providers. Remember, cheap is not the same as value. Low cost platforms seem to push more on an IFA’s timesheet, not on the wrap operating system. Getting the formulae correct is not easy but people should be aware of the potential for trouble if they are not cogniscent of the possible effects.

The final issue is perhaps my more light-hearted concern around investment choice and the degree to which ‘nudge’ economics should shape wrap operators’ thinking. Operators should nudge IFAs to make good choices from every possible version of ‘great’ performance. The argument about whole of market and open architecture is too binary for an industry like ours. Rather platforms could be like some department stores - include quality concessions plus own brand solutions. Operators should offer discretionary managers, ETFs, OEICs, directed fund ranges, in-house multi-manager solutions (where they exist) guided architecture, the intellectual property to build model portfolios and the bravery to offer robust fund governance.

Answers to all of these would help improve any wrap solution but without an excellent sales and technical support team of sufficient size and experience the above will only fill a trophy cabinet temporarily. Long term strategising is the key to any business whether it be window cleaning, managing national debt or operating a wrap platform.

However, if it all seems too onerous I would encourage you to consider hedging your bets and running with two platforms – The coalition strategy is one which is becoming widely accepted as best practice!