Mark Maplesden of Novia Global reflects on why the industry needs to focus on transparency and better infrastructure this year.
I don’t really listen to podcasts anymore, as it feels like everyone is rolling them out nowadays. But recently, while taking a stroll on the marina at the end of the festive break, I heard one that genuinely stopped me in my tracks.
Entrepreneur Chris Williamson was making a guest appearance on Diary of a CEO when he asked: “If your life was a movie, what would the audience be screaming at the screen?” In other words, what would they be urging you to do? What would they be imploring you to enhance, change or think again about?
He followed up by arguing that most people are actually already doing enough – they just don’t give themselves credit for it. This point hit even harder. As I headed back to the office, it struck me how true it is for our industry.
January always brings the same wave of self‑improvement theatre. Everyone becomes convinced that they’re not achieving enough and need to reinvent themselves. “New Year, new me” declarations, productivity hacks and promises of radical transformation start appearing everywhere. But the truth, as Williamson claims, is that we’re probably doing enough already.
The same applies to wealth management. We really don’t need another round of new slogans or a fresh batch of “game‑changing” products. We don’t need more noise. We don’t need another revolution.
Instead, in my view, what we need in 2026 – as in any other year – is transparency and the right infrastructure. We just need the foundations done properly. Here are five reasons why.
Product isn’t the differentiator anymore – transparency is
Pretty much everyone in our industry has access to the same global toolkit – ETFs, model portfolios, private markets, multi‑asset funds and so on. The product arms race is over.
But transparency? It’s still inconsistent, avoided and wrapped in unnecessary layers of complexity. Ultimately, clients just want to know:
- What they’re paying
- Who they’re paying
- Why they’re paying
- When they’re paying
- How it affects their long‑term outcomes
Advisers should want to work with platforms that make the answers to these questions obvious. Transparency isn’t a marketing line – it’s a system design choice.
Cross‑border advice needs cross‑border clarity
Globally-mobile clients expect multi‑currency, multi‑jurisdictional portfolios. This is particularly the case in a market like Dubai, where I’m based.
Crucially, they also expect “clean” and honest charging, with no hidden layers, no “bundled” fees and no surprises buried in the small print. This is why modern platforms must show:
- Custody fees
- Dealing costs
- FX
- Adviser fees
- Platform charges
- Fund charges
These need to be clearly separated, easy to understand and defensible. For that to happen, providers must invest in infrastructure that makes transparency the default rather than the exception.
Regulators shift from product policing to charge policing
From the UK’s FCA to Dubai’s DFSA, regulators everywhere are increasingly focusing on transparency. They want clarity, evidence and straightforward charging structures.
Providers therefore find themselves under mounting pressure to respond to some basic yet vital regulatory questions. They’re being asked:
- Are fees transparent?
- Are they fair value?
- Are they explained?
- Are they documented?
- Are they consistent?
Products don’t deliver the necessary answers. Infrastructure does.
Advisers want less client friction and fewer awkward conversations
Many advisers still have to spend far too much of their time explaining opaque fee structures, defending legacy charging models and navigating platforms that hide costs in complexity.
The industry should have moved on from this by now. What they really want is:
- Clean charging
- Clear reporting
- Simple explanations
- Platforms that support transparency, not undermine it
These ideals can’t be achieved just by adding more “stuff”. They stem instead from operational simplicity and transparency.
Clients want clarity, not complexity
Clients don’t want to feel like they’re being sold to. What they do want is to feel like they’re being treated fairly. This means there’s no room for complexity – less still uncertainty. Clients expect and have every right to receive:
- Real‑time visibility
- Multi‑currency clarity
- Consolidated portfolios
- Simple, transparent fees
- Clean, modern reporting
- A good standard of service
Again, it’s the right infrastructure that generates the necessary confidence.
In conclusion…
The job of a platform is in many ways very simple. We take a client’s money, we look after it, and we give it back.
That’s why this year – and in every other year – the providers most likely to succeed aren’t the ones shouting about what’s new. They’re the ones building transparent, modern infrastructure that advisers trust, regulators respect and clients genuinely value.
In my view, this is where the real innovation is happening. It’s also where the best platforms’ efforts will always remain focused – year in, year out.
Mark Maplesden is Novia Global’s Principal Representative Officer in Dubai
