BT Wrap and Macquarie Wrap are particular favourites among SMSF professionals.

However, the research revealed that platform providers are finding this market a challenge to service, due in part to its complexity.

Investment Trends senior analyst King Loong Choi said a key point of difference for platform providers looking to capture this market is reporting tools.

“That is definitely an area where platforms can assist because it allows professionals to better demonstrate value to their clients,” Mr Choi told SMSF Adviser.

If platforms can find a way to integrate reporting of off-platform assets for its professional users, this would also represent a significant point of difference.

“Because with SMSF clients, so much is off platform, so one of the key areas that professionals would like to see improvement is associated with the reporting of non-custodial assets,” Mr Choi said.