Self-invested personal pensions (SIPPs) have overtaken annuities and drawdown to become the most desired product for advisers on investment platforms.
New research conducted by consultancy CoreData Research asked nearly 1,000 UK financial advisers which products and services they hoped to see on platforms.
The survey found that:
- 25% of advisers would most like to see full SIPPs and more complex pension products
- Second on the wish list was annuities and income drawdowns at 22%
- Third on the list at 18% was discretionary investment management services
- 70% of advisers increasingly consider if a platform has adequate cybersecurity when choosing a provider
- 39% of advisers plan to increase business on their main platform over the next year
- 21% intend to increase platforms to add to their offering – up by 6% from 2017
The top three features on current platforms that advisers were happy with are adviser remuneration services, reporting capability and retirement advice.