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Standard platform is clear leader

Standard Life wrap is the clear winner in a Defaqto survey into advisers’ satisfaction with platforms.

The satisfaction index which covers 500 investment advisers puts Standard in the lead with 93 per cent, followed by Selestia/Skandia and Fidelity FundsNetwork on 85 per cent. Sterling is bottom on 74 per cent, with Cofunds at 78 per cent and Transact on 80 per cent.

The survey looked at provider administration, image and reputation, commission administration, reporting, product design and management and e-business.

AIG Life, Prudential and Axa are bottom of the part of the survey covering advisers’ satisfaction levels of investment bond providers.

The index puts AIG Life on a score of 69 per cent, with Prudential on 72 per cent and Axa on 74 per cent. Fidelity Funds-Network is top with 89 per cent, followed by Standard Life and Skandia with 87 per cent and Transact with 86 per cent.

Defaqto says 23 per cent of advisers now write more than 80 per cent of business through a platform compared with 18 per cent last year.

The survey shows less demand for offshore bonds than in 2006, with the product moving from 19 per cent to 12 per cent of investment products sold most.

Principal consultant Ben Heffer says: “This is symptomatic of the general shift away from bonds towards collectives, driven by the rise of platforms and the technological advantages that dealing online brings.”

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