Tom McPhail, head of policy at Hargreaves Lansdown
Hargreaves Lansdown has been named as the first platform member of the Association of British Insurers (ABI) as it establishes a platform working group.
The new category of membership for the ABI reflects the way technology is changing in financial services and the importance of platforms to the long-term savings industry.
Its platform working group consists of platform representatives from ABI member firms who are insurer-owned and ABI platform members (which are not insurance firms).
This will help the ABI with initiatives they are working on such as the pensions dashboard and re-registration.
ABI described the platform working group as a ‘powerful voice’ for the platform community, which would represent the sector robustly to policymakers and regulators
Tom McPhail (pictured), head of policy at Hargreaves Lansdown, said: “We want to speak up on behalf of investors, to make sure government and regulatory policy helps people to plan for their future.
“The ABI has modernised and developed a strong ethos of building policy around the interests of investors, and is now looking to extend its representation to support platform providers such as Hargreaves Lansdown, as well as its traditional insurance company membership. Working with the ABI will give us greater scope to promote our clients’ interests.”
Andy Briggs, ABI chair said: “Platforms are an increasingly important part of the market and reflect the way technology is changing long term saving and the way customers save. The market is strongest when it speaks with one voice and this new category of membership reflects the growing importance of ABI policy work in the platform area.”