Which platform scores highest with advisers?

investment trends platforms

21 February 2022
| By Laura Dew |
image
image
expand image

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.

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.”

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Shareholder

Get rid of the rest of the old guard to clean up the culture, then you might have a chance....

15 hours 40 minutes ago
Ray Mitchell

The previous directors and managers of both Dixon Advisory and the ultimate holding company Evans and Partners should be...

1 day 3 hours ago
Old Fella

Why would any Licensee invest in educating and training new advisers, when as soon as the handcuffs come off, they will ...

1 day 7 hours ago

More than 20 winners from the funds management industry have been crowned at this year’s awards....

4 weeks 1 day ago

ASIC has obtained interim orders from the Federal Court to freeze the assets of a registered managed fund and prevent its former director from leaving Australia. ...

3 weeks 2 days ago

Insignia Financial has unveiled a new operating model and executive team, including a new head of advice, while three senior executives are set to depart the licensee....

1 day 17 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND