The Platforms Association launches charter to modernise investment transfers

The Platforms Association has launched its Transfers Charter, bringing together organisations from across the sector to co-ordinate industry commitments to modernise how investments are transferred between platforms.

The charter applies to all transfers between platforms, with the initial roll out planned for the end of 2026, focusing on ISAs, pensions, and general investment accounts.

It brings together 40 organisations, including 24 platforms, to establish a programme of actionable improvements and an implementation roadmap to enhance the end-to-end transfer journey for customers.

Built on analysis of transfer delays, operational barriers, and friction points between platforms, the charter aims to address concerns around manual processes, delays, and inconsistent customer experiences.

Charter signatories have committed to delivering a series of improvements within defined timelines to improve customer outcomes, operational efficiency, and provide greater transparency.

The core commitment is to accelerate digitisation and standardisation across transfers, with signatories to phase out paper-based processes and cheques, and replace wet signatures with compliant electronic alternatives.

They have also committed to reducing avoidable delays, including unnecessary rejections and repeated requests, and adopting clearer and more transparent communications between platforms.

A shared accountability framework has been established as part of the charter, aiming to measure performance across the sector to track progress, identify remaining friction points, and resolve ongoing challenges collaboratively.

“This charter represents a shared commitment across the industry to raise the bar for customers and a collective determination to deliver real, lasting improvements to the transfer experience,” commented The Platforms Association CEO, Keith Phillips.

“Transferring investments should not be as complex or time-consuming as it can be today. This charter reflects a shared recognition across the industry that improvements are needed, and a collective commitment to deliver them.

“By focusing on digital processes, clearer standards and better transparency, we want to create a more consistent and efficient experience for customers, advisers and providers alike. Just as importantly, we are putting in place the mechanisms to measure progress and hold ourselves accountable over time.”

Financial Conduct Authority director of consumer investments, Lucy Castledine, added: “Transfer times need to improve significantly, and The Platforms Association’s ambitious Transfers Charter will support this.

“We will continue to engage with The Platforms Association and the wider sector on this issue. It’s important as we work towards a competitive, innovative and resilient market that supports sustainable growth and delivers good consumer outcomes.”

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