From www.professionalplanner.com.au: Platforms in the financial advice industry are engaged in a “war on inefficiency,” striving to standardise processes and enhance client service through the use of technology and AI.

Advisers aim to reduce the number of platforms they use, seeking to streamline operations and improve efficiency by consolidating to one or two platforms.

Platforms are expanding their value propositions to cater to high-net-worth clients, with a need for strong processes and capabilities in their service offerings.