Platform providers are performing below advisers' expectations in six of 11 important areas, according to Defaqto's latest survey of the level of service on offer from the market.
The financial researcher's report said this included the three service categories ranked as most important by advisers - existing business administration, new business administration and online services and ebusiness.
The report suggested service was only exceeding platform users' expectations in platform provider strength and brand, adviser charge administration and transition and implementation but added these were seen as the least important areas for advisers.
Defaqto's head of insight and consulting for wealth and protection David Cartwright said: "Platform provider's benefit from loyal advisers, but it could be questioned if this is loyalty or not.
"Staying with a platform may outweigh the inconvenience of moving as it takes considerable time, administration, compliance, and possible cost to make the decision to change."
He went on to say this was no reason for platform providers to fall short in their service delivery, adding: "They would be prudent to consider focus and resource in this area as 10% of the advisers surveyed have changed their platform provider in the last 12 months.
"The balance of focus between acquisition and retention is a challenging one for providers."
Defaqto has also responded to a growing demand for multi-asset investments by publishing a guide to support advisers' selection processes. It said data compiled through its adviser research software, Engage, had highlighted that users are increasingly considering these funds.
The guide has taken a closer look at the multi-asset funds universe, and in particular risk-bound funds, offering a selection process structure for advisers to follow and a chart to identify key investment characteristics. Part of the appeal of risk-bound ranges, it suggested, is the ability to switch easily between different risk-rated funds.
Defaqto has also highlighted in the guide how risk-targeting has become increasingly important following the financial crisis, writing: "This was seen by many as a watershed, where investors' primary concerns shifted from generating the best return possible to risk and protection of capital."
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