Fund and tax wrapper choice is the prime factor advisers consider when selecting a platform, research suggests.
A survey carried out by Investec Specialist Bank, polling 100 advisers, found the overwhelming majority (88%) consider choice of funds and tax wrappers to be the number one factor when selecting a wrap platform for client investments.
Also high on the selection criteria was value for money or value for fees charged, cited by 84% of respondents, and technical support and ease of administration (82%).
But those platform credentials more readily associated with RDR-readiness - such as transparency and choice of investments - came lower down list of priorities.
Just 79% cited a platform's ability to offer a full range of investment options to more risk averse clients, with only 78% mentioning transparency and help in achieving RDR-readiness.
"Competition in the wrap platform market is intense and our research shows that IFAs have a clear view of what they are looking for when selecting which ones to use," said Lionel Ross of Investec Specialist Bank.
"Many intermediaries are becoming more demanding here and it is imperative that wrap platforms continue to widen their range of funds and cash products as investors needs are becoming more complex and demanding."
Meanwhile, of those advisers already using wrap platforms, nearly half (49%) said their preferred type of deposit option is for fixed term deposits, followed by notice deposits (30%) and structured deposits (17%).
The forces at play in investment - most obviously, regulatory change, uncertain markets and shifting demographics - are as strong today as they were when Professional Adviser launched its sister magazine Multi-Asset Review in 2017.
Regulator has visited some firms already
Platforms react to Fidelity blocking Income Focus purchases
Chris Hill's letter to Treasury
Cash balance surges