Navigator wins platforms race
Australia’s major financial services players are spending more on platform development with the result that the gap between the best and worst-rated platforms is widening and more time is being spent on developing direct equity and exchange traded fund capacity, according to the latest research from Investment Trends.
The Investment Trends research, released today, revealed that Navigator had emerged at the top of the rankings followed by FirstWrap, Macquarie Wrap, Asgard eWrap and netwealth.
Commenting on the results of the research, Investment Trends principal Mark Johnston said that much of the caution previously generated by the global financial crisis had been set aside in 2009, with platform owners resuming “the normal arms race of developing more and more functionality to retain key adviser relationships and attract a higher proportion of planner inflows”.
“Over 2009, much of the investment in platforms was focused on improvements in direct equity capabilities, risk integration, improved data flows from planning software to platforms, enhanced reporting capabilities and rebalancing tools, capital gains tax management and workflow improvements,” he said.
Johnston said that while there had been fewer areas of development when compared to previous years, large amounts of resources had been deployed to make the improvements that had been achieved.
The emergence of Navigator as the top-rated platform by Investment Trends had been based on a number of enhancements including the launch of integrated separately managed account offerings, superior integrated risk capabilities, enhanced portfolio rebalancing tools and a “superior range of email alerts to planners on workflow items and changes to client accounts”.
Johnston said the Navigator team had worked very hard over the last few years to achieve the outcome against some very tough competition.
“MLC has, in turn, done well to secure a key technology asset through the acquisition of the Australian Aviva business last year,” he said.
AUTHOR
Mike Taylor
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
