Financial advisers say efficiency and support are key areas for improvement on platforms, an Investment Trends study shows.

Senior Analyst King Loong Choi told insuranceNEWS.com.au that while some platforms have improved their life insurance offerings, there have been few changes by providers in the past year.

He says the focus has been on enhancing functionality and making platforms more user-friendly. “With the aim of improving adviser efficiency and providing greater transparency, the platform industry saw continued focus on enhancing and refreshing platform portals.”

The study shows adviser support has been a key area of focus, with many platforms improving the navigational efficiency of support pages.

BT Wrap, CFS FirstChoice and North Online all launched new adviser support tools or redesigned support pages to make it easier for advisers to find information and help.

“We have continued to see platforms provide advisers support from new angles rather than just the traditional ‘how to use the platform better’ guides,” Mr Choi said.

“Key areas of focus include providing strategies that advisers can use to enhance their businesses, and the ability for advisers to easily share research and education with clients to help lift their engagement.”

The study ranks Netwealth as the leading platform for overall functionality. It also ranks first for transaction, decision support and online business management tools.