A recent study of approximately 900 advisers by research firm Investment Trends found that adviser satisfaction with platforms has reached a record high.
The research revealed that 80% of advisers rated their overall satisfaction with their platform as ‘Good’ or ‘Very good’.
Transact received the highest accolade as the top-rated platform overall for adviser satisfaction when advisers were asked to rate their primary and secondary platforms.
The platform was rated first in 10 out of 19 categories of platform service and was second in five other areas.
Advisers particularly valued continued investment in platform capability.
36% of advisers could recall recent enhancements from their primary platform that they consider valuable.
For Transact advisers, this figure stood at 64%, with the most notable mentions including digitalisation, enhanced platform functionality, reporting and analysis tools, alongside fee reductions and cost transparency.
The survey indicated that platforms played an important role in generating efficiencies for advisory firms.
Amongst advisers using Transact, 44% believed the platform has a key role to play in improving efficiencies in advice implementation, and 25% believed they have a key role in helping them improve client onboarding.
Greater integration of systems was cited by over 50% of advisers as an important way they could improve their business.
Advisers also believed platforms can add value by integrating with third-party solutions, with the most valued being two-way exchange of data with planning software.
Tom Dunbar, Transact chief executive officer said: “We’re really pleased to have been top rated by advisers yet again.
“At Transact, we believe that great platform services not only help advisers deliver better client outcomes but also help adviser firms operate more efficiently.
“That’s why we’re committed to setting the industry benchmark for service and functionality.”
He added: “To support this, we’ve introduced new specialists into our regional client support teams covering transfers, technical and compliance. These complement our highly skilled technical team.
“It’s also encouraging to see advisers recognising how integrations between platforms and software providers could benefit their business.
“This is a key strategic priority for Transact as we look to create a more efficient ecosystem for advisers in our pursuit of making financial planning easier.”
