Portfolio analysis tools help intermediaries to track portfolio performance and analyse the cost and risk of their investments.
According to the findings the key reasons for the increasing take-up of external data-driven platforms are their ability to offer a one stop overview of client portfolios (52%), more access to data (34%) and more detail on funds (30%).
Advisers reported that IRIS and 360 Financial were the most two popular third party portfolio analysis tools, followed by Plum and True Potential.
The research also showed that the RDR, which celebrates its second anniversary, has had a positive impact on the UK retail financial services industry with three in five (61%) intermediary businesses suggesting they have grown since its introduction of which 13% reported significant expansion. IW&I’s research shows that one in three (33%) advisers believe that a greater use of technology to improve efficiency has been a key positive change for them.
In addition, 13% of advisers have started to outsource to a DFM or increased their use of them since the introduction of RDR.
Mark Stevens, Head of Intermediary Services, Investec Wealth & Investment, said:
“As a result of RDR - advisers have increased the focus on improving client outcomes and looked to technology to support their firm’s efficiency. This has led to the significant growth of portfolio analysis and investor servicing tools, which enable advisers to view client portfolios through platforms.
“In our experience many of those advisers who are increasingly using technology to improve their service offering are also enthusiastic users of DFMs as they can identify and document the benefits this approach can bring.”
