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'Big 3' platforms dominate market

Financial Standard

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August 11, 2025

FirstChoice, BT Panorama and Insignia Financial are the most widely used platforms among financial advisers, according to Rainmaker Information, which shows that one third of the industry rely on the 'Big 3'.

- Karren Vergara

Colonial First State's (CFS) FirstChoice platform holds the highest number of financial advisers who are aligned at 13.1% and nonaligned at 13%, the June 2025 Financial Adviser report states.

Among aligned financial advisers, BT Panorama has a 12.2% market share while Insignia's Expand has 9.8%.

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