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Analysis by CoreData shows that advisers with a higher minimum portfolio requirement and who use more platforms tend to be more successful than their peers.

The research claims that setting a minimum portfolio is the key to finding the right type of client.

The majority, 93 per cent, said they use platforms for their client’s investments.

When it comes to the number of platforms, the largest group of advisers uses three platforms, with Skandia the most popular among 16.1 per cent, followed by FundsNetwork with 13.1 per cent and Transact with 8.8 per cent.

However, respondents believed that it was not the number of platforms being used which will drive success, but the type of service on offer.

Advisers said that they prefered to be considered a ‘one-stop shop’ for advice, rather than specialists or niche providers in certain areas.

The report said: “Advisers feel that, on average, higher income streams can be achieved if they offer clients multiple services, instead of relying on areas of the business that were previously fruitful owing to the amount of trail commission associated with them.”

Smaller companies might also become more successful than their larger peers, according to the research, as they have fewer overheads and can be more flexible in their charging structure as they are closer to their clients.