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Financial advisors are a key distribution network for retail investors in Australia. All investment product manufacturers need to understand the priorities and criteria that advisors use to select their investment partners and platforms. As almost all advisors use a platform to manage their client assets under management (AUM), understanding why certain platforms are more favored than others is crucial.
- The attractiveness of platforms is first and foremost ranked by the investment fund range and ease of use.
- Investment product providers are regularly reviewed, with the majority reviewing their platforms at least annually.
- Colonial First State remains the top platform provider, though BT Panorama is growing Westpac's BT wealth arm as well.
- A minority of advisors are using discretionary fund managers, with this not likely to change significantly in the short term.
- Cost is the top driver for switching platforms, highlighting the increasingly commoditized nature of the service.
This report analyzes the relationship that Australian financial advisors have with their product and platform providers based on our 2015 IFA Survey. It details the current use of platforms and the service arrangements advisors are seeking from their product providers. In addition to exploring the current relationships advisors have, the report looks at the best lines of attack for platforms looking to build their advisor networks.
What else does this report offer?
- Insight into the business concerns of Australian financial advisors post-FoFA.
- An investigation of the main features advisors look for in their platforms.
- Market share of the leading platforms in use by Australian financial advisors.
- Advisor ranking of the best platform packages in the market.
- Key features that prompt switching among advisors.
- Key recommendations for discretionary fund managers in what they can do to better appeal to Australian advisors.
Reasons To Buy
- Understand key trends in the Australian advisor community's perception of product providers.
- Understand how advisors are evaluating their platforms.
- Target those features that advisors most value.
- Improve advisor retention by understanding the services that advisors most want from product providers.
- Colonial First State
- BT Financial