Which platform scores highest with advisers?

In the latest annual platform report from Investment Trends, Netwealth has claimed the top spot with a satisfaction score of 91.5% for its overall platform functionality.

This was followed by HUB24 (91.1%), which came top in 2020, Praemium (89.3%), BT Panorama (85.1%) and Mason Stevens (82.6%).

In its Platform Benchmarking and Competitive Analysis report, Investments Trends said all platforms received a higher score than they did in 2020 with Mason Stevens posting the largest increase at 8.9%, and the firm said platforms had focused on embedding templates, reporting, comparison tools and educational resources.

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Changes by firms during the year included the ability to use digital signatures, building platform tools and partnering or acquiring third-party solutions. There was also greater use of technology such as dedicated mobile apps and mobile-friendly interfaces.

Finally, there were developments in the environmental, social and governance (ESG) space with BT Panorama, Macquarie Wrap and Praemium allowing advisers to compare ESG options and CFS First Choice and North adding ESG options to its discrete investment strategies.

Sarah Brennan, chief executive of Investments Trends, said: “As a collective, platforms are raising their game. An enormous capability uplift was observed across the board in the specific areas of reporting, data security and integration – all in a concerted effort to support the continued digitisation of adviser practices and their compounding compliance burden.

“Platforms have emphatically heeded calls for support from advisers. To address the new fee consent obligations, all platforms have offered digitised templates, enhanced tracking and notifications. With respect to DDO, we note with interest HUB24’s integrated online chat tool through which advisers can raise complaints and report significant dealings.”

 




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BT Panorama migration was disaster. You can not get performance figures prior to the transition date. Try to do a 12 month performance report and % boxes are blank. It has been terrible for my clients.

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