Aberdeen Adviser, provider of the UK’s second largest adviser platform by assets, has retained an ‘A’ rating for financial strength for its Wrap and Elevate platforms in the latest edition of assessments by independent ratings specialist AKG.
An ‘A’ rating from AKG identifies ‘superior’ financial strength. This is Aberdeen Wrap platform’s eighth consecutive ‘A’ rating, and the seventh consecutive time it has been awarded to Aberdeen Elevate.
AKG’s assessment of financial strength measures a company’s ability to sustain delivery of its products or services to customers.
Its analysis is based on a detailed assessment of publicly available information, supplemented by face-to-face discussions with senior management team members and the supply of additional confidential / non-confidential contextual market material. The rating reflects factors such as a business’ capital and asset strength, the strength of its management team and its ability to withstand external market forces.
As part of their assessment of overall financial strength to deliver ongoing operational capability, AKG also assessed Wrap and Elevate’s service, image and strategy and business performance.
Verona Kenny, Chief Distribution Officer, at Aberdeen Adviser said;
“We’re incredibly proud to have retained our AKG A rating for financial strength for our Wrap and Elevate platforms. It’s testament to the investment that we continue to make in our proposition, our commitment to improving service and the value we deliver.
“As AKG recognises, financial strength also means flexibility and vision. A partner who is financially strong is one advisers can rely on to not only deliver exceptional service, but also to provide timely, effective help and guidance, stay abreast of changing regulation, and offer real insight so advisers can focus on delivering great advice and service to their clients.”
AKG’s Communications Director Matt Ward added:
“Consumer Duty has seen a renewed focus on the requirement for advice firms to carry out robust due diligence when appraising platform partners and consideration of financial strength remains a crucial component given the aspiration for successful long-term partnerships. AKG’s independent ratings are designed specifically to inform and support such exercises, and feedback from the market indicates the ratings are frequently included by advice firms as a key selection factor.
An AKG ‘A’ rating is the highest rating available for overall financial strength, so for Aberdeen’s platforms to retain this rating for successive years is commendable. This level of continuity should give advisers reassurance of Wrap and Elevate’s consistent financial strength now and into the future.”
