Platforms are becoming the backbone of modern advice
Duncan Wattam, Head of Standard Bank Investments.
Duncan Wattam, Head of Standard Bank Investments.
For financial advisers, platforms are increasingly becoming the infrastructure through which advice is delivered, investments are managed and clients experience their entire financial lives. That shift is being driven by rising compliance and technology costs, increasingly sophisticated client expectations and a growing demand for simpler, more transparent ways of managing wealth. For advisers, the right platform can remove administrative friction and create more time for what matters most: advice and relationships.
For Standard Bank Group, this is at the heart of its investment strategy. The group is bringing together its banking, investment, wealth and platform capabilities to create a more integrated proposition for advisers and their clients. “The true advantage of Standard Bank lies in its extensive relationships with millions of South Africans through our banking services, giving us a deep understanding of their financial needs,” says Duncan Wattam, Head of Standard Bank Investments. Alongside this reach, the group has specialist advisory teams, including: Wealth and Investment, Standard Bank Financial Consultants, Liberty Advisory Partners and Stone House Capital, supported by our investment manufacturing capabilities businesses, including STANLIB, Liberty Investments, Global Markets, 1nvest, Melville Douglas, Stockbroking and INN8 Invest. “The ambition is to connect these capabilities through a single advisory relationship, giving advisers access to a broader range of investment solutions, specialist strategies and discretionary services, through our
on- and offshore platforms,” he says.
Platforms as the backbone of advice
Wattam describes platforms as “the backbone of the investment world”, providing a secure environment where investments can be held, viewed and managed. For advisers, a well-designed platform can take much of the administrative burden out of managing investments, while for clients, it can replace a fragmented collection of statements, accounts and providers with a consolidated view of their financial position.
But building this infrastructure is complex. It requires significant investment in technology, funding and scale, as well as the ability to serve a large client base. Standard Bank believes its scale gives it an advantage. “We are creating local and global platform capabilities where advisers can concentrate on providing advice without worrying about paperwork, while clients enjoy a unified view of all their financial accounts, including banking and investments, in one accessible location,” says Wattam. The scale behind this ambition is significant. Standard Bank’s Investment and Asset Management business manages and advises on R1.8tn in assets and has 50 years of investment management experience.
Simplifying a complicated investment journey
The growing importance of platforms comes at a time when the financial advice industry itself is undergoing significant change. Wattam identifies a few major shifts.
The first is consolidation within the advice industry, as rising compliance and technology costs make it increasingly difficult for smaller firms to manage every aspect of their businesses independently. This is creating demand for partners that can provide infrastructure and technology while allowing advisers to remain focused on their core role.
The second is a change in client expectations. Consumers are increasingly less receptive to being sold products and more interested in advice that reflects their individual circumstances.
“Clients no longer want to be sold to; they can see through product pitches, instead, they want someone who truly understands their situation and tailors solutions accordingly.”
That places greater emphasis on the adviser-client relationship, but also on the technology supporting it. If platforms can provide advisers with a more complete view of a client’s financial position, they can help deliver advice that is more holistic and relevant.
The third shift is technology, including artificial intelligence and direct-to-client investing (D2C). While technology is transforming investment research and enabling professionals to analyse information more efficiently, Wattam believes it should not be a replacement for human expertise. “People still trust people, and consistent advice remains essential,” he says. Direct-to-client (D2C) is also emerging as an important part of the industry’s evolution. Standard Bank is investing in a dedicated D2C capability as part of its broader technology strategy. Wattam says: “We support our clients at every stage of the advice journey, from direct investing through to specialist, tailored guidance designed for the complex needs of ultra-high-net-worth individuals.
One place for the client’s financial life
The concept of consolidation extends beyond the traditional investment platform. Standard Bank’s vision is to bring banking and investment services closer together, reflecting the reality that clients’ financial lives do not exist in separate compartments. “But people’s financial lives don’t fit neatly into boxes.”
A client paying off a home loan may simultaneously be saving for children’s education, contributing towards retirement and considering how to transfer wealth to the next generation. The platform opportunity is therefore about more than holding investments. It's about connecting these different aspects of financial planning so that advisers can see the bigger picture. For clients, this could mean a more seamless experience, whether they prefer face-to-face advice or digital interaction.
Offshore platforms bring another layer of opportunity
Standard Bank is repositioning its investment platforms as integrated ecosystems rather than mere back-end technology. The international offering consolidates banking, endowments, portfolio management, and fiduciary services for South Africans with overseas assets, bringing reporting and compliance across jurisdictions into one place. For high-net-worth clients, this matters as circumstances evolve – a child moving overseas, for instance, can have knock-on effects for estate planning, wills, tax structures, and investments, and having everything on one platform makes it easier to adapt strategy as life changes.
The platform as an enabler, not the advice
Standard Bank sees the future resting on three pillars: relationship-driven human advice, a competitive investment proposition, and a strong digital experience across both direct-to-consumer and adviser channels. While South Africa has sophisticated investment markets and an established advice community, the bank believes there is still room to draw more people into formal investing, with pla
tforms evolving from adviser tools into shared infrastructure connecting advisers, clients (including D2C), and the broader investment ecosystem
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