In this year’s survey, technology has once again been a driver for an increased or decreased use of platforms, while pension reforms and new business were other high-scoring factors. Additional comments suggest the continued move to outsourcing is also a factor and platforms need to keep up. Respondents noted that “building and running in-house model portfolios” was a reason for their choice of platform, as was discretionary fund manager (DFM) access. It is therefore unsurprising that more than half of all respondents rated access to DFMs, model portfolios or risk-targeted/rated funds as important or very important.
With the platform industry likely to see further change as macroeconomic concerns abate, it is clear that facilities are still of key importance for advisers. The need for further innovation and adoption of features such as electronic signatures will also be crucial to their continued success.
Nyree Stewart is features editor at Investment Adviser