The decision by Westpac to retain the BT Panorama platform should be welcomed by the industry, according to platform researcher Recep Peker, as a way of intensifying platform competition and improving its functionality.
Mercer’s high-net-worth clients are set to benefit from a new service agreement to utilise Praemium’s virtual managed account and administration services, with the platform initially hosting close to 400 portfolios.
Managed accounts can be a benefit for advisers in their professional year, according to experts, as they pose a lower compliance burden and improved risk management.
Platforms that already offer full functionalities are now opting to differentiate themselves based on specialisations and client segments, according to Recep Peker, as he launches a platform research service.
SuitabilityHub, a new fintech that allows financial advisers to compare platform providers features and takes the focus off fees, has launched to financial advisers.