Financial advisers cite client value and simplicity of use as the two most compelling reasons why they would choose one platform over another, according to CoreData research.
When placing a client in a product, nearly 50 per cent of the 1400 advisers surveyed cited client value as a primary reason behind selecting a platform.
"The specific question that we were asking was about alternatives and what drives switching behaviour," CoreData partner Craig Phillips said.
"So it's not about existing business necessarily but more to do with if an adviser is going to put a new client or existing client into a different platform, then what would that platform have to do to attract the business."
More than 41 per cent of advisers said simplicity of use was another compelling reason when considering which platform to place a client, the study found.
"If it benefits the client dollar-wise that's great, but if it's going to create a nightmare for the adviser then it is not really benefiting the client at the end of the day because it's going to drive up the cost to the planner of delivering the advice," Phillips said.
