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Simply 5 main platforms dominate the adviser platform sector, in response to analysis from consultancy lang cat.
The corporations – abrdn, Quilter, Aegon, Transact and Constancy – management over half the £583bn belongings managed by the suggested platform sector.
In line with the lang cat’s annual State of the Platform Nation Information, suggested platform belongings proceed to be concentrated amongst a handful of manufacturers.
The report discovered that whereas 18 of the 21 platforms submitting information noticed double-digit development in gross flows in 2021 versus 2020, smaller gamers made little headway.
The consultancy calculates that suggested platform belongings stood at £583bn of belongings as at 31 December 2021.
The highest 5 agency management roughly 53% of the belongings of the sector. The highest 9 organisations accounted for 81.6% of belongings in comparison with the underside 9 with 18.4%.
Taking a look at new enterprise flows, the larger platforms have been the primary winners with seven of the 9 largest platforms by AUA (Property Underneath Recommendation or Administration) additionally showing within the prime half of the desk for each web and gross flows.
Langcat State of the Platform Nation Report – Key Platforms by dimension
Supply: the lang cat
Steven Nelson, perception director on the lang cat, mentioned: “Regardless of all of the discuss of disruption lately, a platform’s dimension in AUA phrases continues to correlate strongly with its new enterprise flows. Though a number of the newer gamers, like Multrees and Hubwise, have seen phenomenal yr on yr development, their decrease start line signifies that they’ve some strategy to go to meet up with the larger girls and boys.
“A lot of the power of those propositions is of their attraction to advisers and wealth managers who wish to grow to be the masters of their very own future, by constructing a expertise ‘stack’ that finest fulfils their shopper proposition.
“Our analysis exhibits that solely a big minority of corporations have appeared into this mannequin to this point, however curiosity is rising. Though it’s not for everybody, there are benefits to the ‘adviser as platform’ mannequin and it’s an space that we anticipate to see appreciable sector dialogue.”
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