Advisers rate speed over ease when using platforms: Survey
Survey of 345 financial advisers finds that they care more about speed at which new client applications are processed.
Advisers now care about the speed of doing business more than any other factor when it comes to using platforms, according to a Defaqto survey.
The survey of 345 financial advisers has found that ‘processing timeliness’ is the most important platform service aspect, trumping 2011 most important aspect ‘ease of doing business’.
In an Investment Adviser platform watch column, published today, Nucleus’s chief executive David Ferguson emphasised the growing importance of technology in the platform market.
Defaqto’s insight analyst for funds Fraser Donaldson said: “Determining the speed with which key administrative tasks are carried out should be an essential part of due diligence for advisers researching potential product and service partners.
“All platforms have seen considerable growth in assets and how they are coping with increased scale administratively is crucial.”
Defaqto added that it had published a review of platform service based on the survey on its IFA Guides webpage.