The proportion of advised client assets held on platforms is increasing, albeit at a slow pace. Adviser platforms currently hold the majority of assets that are controlled or influenced by advisers, but there are still some types of business that remain off-platform.
Platforms have captured most of advisers’ centralised investment propositions, which has contributed to the significant growth in adviser platform assets in recent years.
However, there is still significant potential for platforms to expand their offering and capture even more advised assets. According to a recent report by Platforum, platforms are increasingly looking to expand their range of services to include areas such as digital advice and pensions, as well as developing more sophisticated investment solutions.
One of the key drivers of this trend is the increasing demand from advisers and their clients for greater convenience and accessibility. Platforms that offer a wide range of services and can integrate with other tools and systems are likely to be more attractive to advisers and clients alike.
Another driver is the need for greater efficiency and cost savings. Platforms that can help advisers to manage their businesses more efficiently and reduce costs are likely to be in high demand.
As such, platforms are investing heavily in technology and innovation to stay ahead of the competition and meet the evolving needs of advisers and their clients. This includes developing new digital tools, such as robo-advice platforms, and leveraging artificial intelligence to provide more tailored and personalised solutions.
Overall, the trend towards greater use of platforms by advisers is set to continue, as the benefits of convenience, efficiency, and cost savings become increasingly evident. Platforms that