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How platforms compare: Reporting and management tools

Good reporting and management tools make all the difference to advisers – especially the first-timers

When it comes to platform reporting and management tools, the triumvirate of Transact, Nucleus and Novia again appear in all four featured areas: practice management tools; client reporting tools; client review tools and portfolio management tools.

This is not a comprehensive look at all the services offered by platforms but a sound comparison of the tools available to support a number of different jobs.

The three wraps are joined in the top five by Skandia and True Potential, which also feature in all the other categories.

Transact tops three of the four categories featured: practice management reporting tools; client reporting tools; and client review tools.

Skandia also fares well in this area. It is ranked top for portfolio management tools and comes second in two other categories, client reporting and client review tools.

The other big success in this area is relative newcomer True Potential.

Plan Money director Peter Chadborn is not surprised that True Potential has come from nowhere to be rated by advisers. “They started from scratch fairly recently and whenever anyone does that, they can learn from their experience of what they did before and also look at the current market, look where the improvements need to be made and start with a blank sheet of paper.”

Chadborn says improvements in the reporting tools available makes moving to a platform for the first time much easier.

“For advisers who haven’t yet adopted a platform model, when they do they often realise how much better the tools are on the platform than would be on, say, their back office system, so they can provide a consolidated view of the client’s portfolio in a far more efficient and far more client-friendly way.”



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