The Elevate platform is to continue as a distinct proposition following the completion of a consultation process with advisers by new owner Standard Life.
The life group acquired Elevate from Axa in May this year in a deal estimated by analyst Macquarie Capital to have cost £50m with a further amount - less than £50m - required to merge the IT systems.
According to Standard Life, its adviser consultation programme included a large number of direct conversations with advisers as well as more than 500 responses to a survey into the key priorities and requirements of Elevate advisers.
The survey's findings indicated a high degree of consensus in what advisers are looking for from a platform, with almost all (97%) highlighting ease of use/automation and competitive price as key proposition requirements.
Almost nine in 10 respondents (86%) selected usability enhancements and process automation as the top development priority; other priorities included share class conversion, tax and client reporting and reduction in paper outputs.
Standard Life head of adviser and wealth manager propositions David Tiller (pictured) said: "There has been speculation around bringing the Elevate and Wrap propositions together, but our research with advisers has confirmed the Elevate platform should remain as a distinct proposition.
"This means both Elevate and Wrap can move forward with clear purpose and their own development agendas while, at the same time, benefiting from a shared infrastructure that enables the easy sharing of capabilities where this is appropriate. Advisers working with Standard Life will be able to select the most appropriate platform proposition based on their clients' individual needs."
Elevate head of proposition Steve Owen said: "We now have clear direction for Elevate based on what advisers want. Work is progressing to finalise development plans for both platforms with development roadmaps for both expected to be available in the New Year."
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