AXA Elevate and Nucleus share the top spot on The Platforum Leaderboard, according to the organisation’s latest Adviser Platform Guide.

The guide, now in its eighth version, placed Skandia in the number three position. According to The Platforum, the leaderboard has been developed to help advisers assess  platforms on a like for like basis in order to assist them in their choices. Four criteria are used in the rankings. User feedback accounts for more than 50 percent of the overall score, while financial strength, momentum and pace are also considered.

“Each adviser firm has a different set of criteria which it will need a platform to fulfill,” said Platforum managing director Holly Mackay. “For some, it’s all about running discretionary portfolios, in which case online capability and access to investment vehicles become more important. For others, it’s a solution for smaller clients in which case price may become more important than functionality. We work with each adviser we talk to and help them amend our standard weightings to produce their own Leaderboard, fit for their business. It’s important that any platform due diligence process starts with a clear view of what that platform is there to achieve.”

The research also revealed that Nucleus, Novia and Parmenion are the top three platforms based purely on assessment of user experience.

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