The number of advisers writing over half their business on platforms is set to rise by 17% this year, according to new research from Skandia.
The study also reveals 90% of advisers are already using platforms with the largest proportion (57%) using two or three propositions. Around 31% use only one platform and a total of 11% select four or five.
Meanwhile, just over 60% say having access to a wide range of funds is the most important benefit of using a platform.
Improved client service and improved admin efficiency are the second and third most important benefits for 46% and 45% of advisers respectively.
"The data shows that most advisers are already switched on to the benefits platforms can deliver and that many of them are expecting the proportion of their business transacted via platforms to grow during 2009," says Peter Jordan, head of proposition marketing at Skandia."In such a rapidly developing market it is crucial that advisers select a platform partner with the necessary scale and resources to evolve in line with their business and client requirementsIFAonline
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