Platforms praised for innovation in new edition of annual review

The second edition of SuitabilityHub’s annual Platform Market Wrap has highlighted the innovative contributions made by investment platforms to support the financial advice industry’s “next phase of growth”.

The 2025 Platform Market Wrap analysed the latest tech moves and innovations announced by the platforms around three central ideas: battle against complexity, expanding adviser capabilities and driving industry growth.

The report found that platforms had committed to delivering new solutions that would enhance operational efficiency and scalability of advice firms, including digital self-service, streamlining multi-step workflows and implementing bulk processing capabilities. The report highlighted HUB24’s new advice fee consent solution that leverages machine learning to assist advisers in managing multiple clients at once and provides same-day processing.

The review also found North’s Interactive Client Tool launched last year has provided advisers with the ability to deliver dynamic, interactive and personalised presentations for clients with a wholistic picture of their financial position.

“To help advisers achieve their growth aspirations, platforms are continuing to invest in solutions that remove complexity,” Recep Peker, Managing Director of SuitabilityHub, said.

“From automating routine advice strategies like pension refreshes and recontributions to introducing bulk fee arrangement templates, platforms are enabling advisers to scale their businesses while improving client outcomes.”

Platform engaging in partnerships with advice firms, such as Netwealth and iCapital and Praemium and Stropro, has also enabled advisers to tap into a relatively untouched segment of High Net Worth (HNW) clients, without the effort or cost to “reengineer the practice’s operating model” to support their advice requirements.

Similarly, other platforms are offering in-house experience and expertise to boost the services provided by advice firms, with HUB24’s SMSF Access promising “to make managing an SMSF as easy as retail super” and Mason Stevens’ Outsourced CIO service providing institutional-level research and investment support.

“The platform market is increasingly shifting focus from features and fees to value propositions and services that support advisers in effectively serving their target client segments,” Peker said.

“Whether advisers specialise in HNWs, retirees, or everyday families, platforms are evolving to meet their unique needs.”

Platforms have also focused their efforts on cybersecurity and technological innovation such as artificial intelligence (AI) and automation to support advisers, with Macquarie Wrap’s Authenticator app providing a high level of security and reliability. The report also found that several platforms are trialling a range of AI-backed solutions to automate client engagement, back-office administration and cybersecurity.

The review also highlighted BT Panorama’s three-pronged approach to engaging with individuals about the benefits of financial advice, by partnering with Striver to encourage new talent entering the industry, partnering with Preqin for private markets research, and launching the Optimise Your Super tool to gamify engagement with retirement goals.

“Platforms are investing in initiatives that foster industry-wide growth,” Peker said.

“By strengthening cybersecurity, enhancing educational resources, and streamlining platform functionality, they are uplifting the entire advice ecosystem – benefiting advisers and clients alike.

“Many of the AI applications being developed do not overlap. Instead, platforms are working on a variety of value propositions and use cases.

“This is a great experiment, as advisers will have access to a rich range of solutions in the coming years, and we will learn which applications of AI will have the greatest impact on advancing the industry.”