Financial advisers rated Netwealth as the top administration platform in Adviser Ratings' annual satisfaction survey.
More than 1100 advisers surveyed in the Financial Advice Landscape Report said Netwealth delivered the best investment functionality.
HUB24, CFS FirstChoice, CFS FirstWrap and Macquarie Wrap rounded the top five out of a possible list of 17 providers.
AdviserNETgain and Lonsec took out the tops spots for planning software and investment research categories respectively.
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The results show advisers' dissatisfaction with technology during a critical time in the industry, which is facing increased education, compliance and cost pressures, Adviser Ratings managing director Angus Woods said.
In the last three years, there has been "extraordinary movement" out of the institutional space and a 43% increase in the number of small licensees, he said.
"AMP and the banks could often afford to have technology support staff on the ground, resulting in a 'sticky' adviser for the incumbent technology providers. There are now over 8000 practices in Australia with less than five advisers, so it is just not feasible to have this support model in place."
Woods added advisers are looking for more technological and phone support from platforms and planning software to free up their time and provide compliant end-to-end solutions to achieve this.
"In addition, with increased adviser mobility between licensees and the growth in social media, advisers are becoming more influenced by their peers' opinion when selecting a new platform or software solution," he said.
The continued shift to self-licensing is opening doors to new players - Intelliflo, Advice Intelligence, IRESS and Temenos and Swiss-based Avaloq are among them, he said.
Frustrated advisers will soon have more choice and it's up to the incumbents to see if they are ready for the challenge, Woods said.
Investment Trends research released last month showed financial planners are increasingly looking for digital means to engage clients.
The majority (88%) of advisers are strengthening their client relationships using technology-based solutions to interact and disseminate information, Investment Trends found.