I NVESTM E NT TRE N DS ON LI N E PLATFOR M S
September 2018
Platforms in the spotlight This summer, global research firm Investment Trends released its 2018 Adviser Technology and Business Report, an in-depth study of financial advisers in the UK that examines how they run their businesses and how their technology and platform needs are evolving. Kicking off our special focus on platforms this month, Sue Whitbread talks to Recep Peker, Research Director at Investment Trends, about the study and some of the important trends it has uncovered The report, now in its ninth year, is based on a survey of 963 financial advisers concluded in May 2018. This year's study highlights a number of important trends:
SW: Recep, before we talk about platforms specifically, can you summarise what your research tells us about how adviser businesses are faring overall at the moment?
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Financial advisers are battling against the tide of regulatory changes
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Advisers seek, and are willing to pay for, external support to grow their business
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Standard Life Wrap, AJ Bell Investcentre and Aegon Retirement Choices have extended adviser relationships at pace
RP: They are doing pretty well from what we can see. Adviser business profitability is growing with 74% of advisers say that their businesses are more profitable than they were last year. This is a notable trend which has followed the reforms to pensions and the focus on developing long term relationships with clients - a very positive development.
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Commercial advice and back-office software applications are gaining popularity as advisers place greater emphasis on financial plan production capabilities
However, advisers have not been immune to the regulatory changes and requirements sweeping through the industry. Our research shows that regulatory change and uncertainty is now the top challenge faced by advisers (59% cite this, up from 38% last year), surpassing compliance burden (53%, steady).
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