The fund choice has increased to 800 from around 100 and sharedealing is now automated using EMX messaging.
The platform has a self-invested personal pension and Isa but no onshore or offshore bonds as it says the survival of these wrappers is uncertain.
It now offers investors a rebate of all fund manager commission into a cash account which can be used to pay adviser fees or reinvested for direct customers.
Around 75 per cent of the platform’s business volumes come through advisers and 25 per cent direct but it expects direct clients to account for 50 per cent in future. In April, it had £5.4bn assets under administration.
Business development manager Malcolm Dodds says: “We will be targeting both the adviser and direct channels equally but we expect to see a lot more business coming in direct. Separating the cost of advice from the underlying product makes it beneficial for the direct customer but also for the fee-based adviser.”
Financial Technology Research Centre director Ian McKenna says: “This may appeal to some fee-based advisers but I think Alliance should look at adding more services to improve the interaction between the adviser and the platform. A lot of advisers may see the proposition as undermining their position.”