The upgrades stem from Lloyds Banking Group’s investment in the platform, it said.

The changes to the platform includes a new interface, which Embark said will improve the its functionality by “providing a greatly improved look and feel.”

Other enhancements include a broader and deeper integration with adviser back-office systems to reduce the need for manual processes, the company said.

It has also introduced the ability to benefit from tiered charging on family linked accounts and greater flexibility for advisers to set and time charges.

It also said there are a range of functional improvements for discretionary fund managers (DFM) and model portfolios as well as the ability for general investment accounts (GIA) to be written in Trust.

The company said it will continue to invest in adviser support and benefits for users on the Platform with further updates coming throughout the year, including drip feed drawdown.

The year will see further developments in technology, ease of use and service levels, it said.

The changes follows a recent five-star ‘most improved’ service award for the Advance by Embark platform at the Financial Adviser Service Awards (FASA) 2022 last November.

Jackie Leiper, Embark chief executive said: “We look forward to continuing this great momentum to deliver a market-leading service for advisers this year.”

Lloyds acquired the entire share capital of Embark for £390m a year ago, in February 2022.

Last month Embark launched The Paraplanner Room, a new hub for Paraplanners providing topical information and tools.