As managed portfolio services (MPS) continue to evolve from an investment “product” into a holistic, advice-led solution, Aberdeen Adviser’s Head of Investment Solutions, Mark Hopcroft, talks to IFA Magazine’s Deputy Editor, Jenny Hunter, about how advisers are managing regulatory change, fee pressure, and client expectations: and how Aberdeen’s long heritage and deep resources are helping them do so with confidence.
MPS in a changing advice landscape
It’s a busy and complex time to be a financial adviser, wealth manager or paraplanner. Between the lasting effects of the Consumer Duty regime, a shifting regulatory focus on retirement advice, and the constant need to deliver fair value and efficiency, advisers and their teams are balancing more moving parts than ever.
For Mark Hopcroft, Head of Investment Solutions at Aberdeen Adviser, this is precisely where well-structured MPS propositions come into their own. But he’s keen to highlight his view that MPS isn’t just an investment product, but a solution that can help adviser businesses to streamline processes, enhance client understanding, and meet regulatory requirements.
“Advisers will always have something to keep them busy,” he notes. “Right now, the real focus areas are around Consumer Duty, particularly the shift from ‘duty’ to consumer understanding; the challenge of fee compression; and the FCA’s recent retirement income thematic review (TR24/1).”
According to Hopcroft, advisers are still finding their feet in implementing Consumer Duty in full. “It’s not just about fair value,” he explains. “Advisers are looking hard at their tech stacks, their data entry points, and their overall proposition design as they’re trying to streamline everything to improve both efficiency and outcomes.”
But it’s also about holistic thinking. “The FCA’s TR24/1 review talks about a holistic proposition where the investment solution is just one part,” he says. “Many advisers are still working out how to design that broader planning and advice framework first, and then integrate the right investment solutions, such as MPS, into it.”
From product to partnership: redefining MPS
When asked the perennial question, is MPS a product or a solution? Hopcroft’s answer is clear: “It started as a product, but it’s now much more than that.”
He explains that MPS began life as a way for investment managers to package their expertise for advisers who were previously building their own propositions. “Initially, MPS was about giving advisers access to professionally managed portfolios, a convenience product,” he says. “But the landscape has shifted dramatically.”
For advisers, MPS can help redefine their role with the client
Today, with well over 200 MPS providers on UK retail platforms, the differentiator lies not in the product itself but in the partnership and the proposition that underpins it. “The managers seeing the strongest MPS inflows,” Hopcroft notes, “are those that have evolved beyond the product mindset. They’re delivering scalable, integrated solutions that fit seamlessly into advisers’ client-centric propositions.”
For advisers, MPS can help redefine their role with the client. “It positions them differently with clients,” he says. “Instead of being seen purely as investment advisers, they become trusted financial coaches, guiding clients through their broader financial journeys. It’s about a whole lot more than portfolio performance. That’s just a means to an end.”
Hopcroft has experienced this shift personally. “My own adviser introduced me to MPS about ten years ago,” he recalls. “The relationship changed overnight. We went from spending 90% of our meetings talking about investment returns to talking about life goals and outcomes. The investments became part of the plan and not the plan itself.”
That’s a transformation many advisers are now looking to replicate. “It creates confidence on both sides,” he adds. “Clients feel more secure about where they’re going, and advisers can focus on what really matters, which is helping the clients achieve peace of mind from knowing they’re on track to achieve their goals in life.”
What makes Aberdeen’s MPS different
With so many providers competing in the same space, how does Aberdeen stand out? Hopcroft doesn’t hesitate: “Our heritage and depth of resource are key.”
As one of the most established names in UK and global investment management, Aberdeen’s legacy provides a foundation of trust and capability that few can match. “We’ve been in the investment business for decades,” Hopcroft explains. “That gives us breadth and depth of research, sophisticated risk management, and the institutional discipline to manage portfolios effectively and responsibly.”
That experience has also been vital in navigating the FCA’s increasing scrutiny of the MPS sector. “The regulator’s current review of MPS providers is a big one,” he says. “Because of our resources and heritage, we are able to fully understand and align with what the FCA is trying to achieve. We have the people, systems, and governance in place to make sure everything we do is compliant and transparent.”
But heritage alone isn’t enough. Aberdeen’s MPS is designed to combine competitive pricing, consistent performance, and high-quality service. It’s the “holy trinity,” as Hopcroft calls it.
A service built around adviser needs
Service, Hopcroft says, means different things to different people. But at Aberdeen, it’s all about enabling advisers to serve their clients better.
“For us, it’s not just about answering the phone quickly or producing good reports, it’s also about helping advisers become more efficient, more insightful, and more client-centric,” he explains.
That support comes through technology and education, as well as tailored solutions.
“Technology is a huge enabler,” he says. “We’re constantly looking at how we can use digital tools to help advisers integrate MPS more seamlessly into their business processes.”
At the same time, Aberdeen recognises that many advisers are still getting to grips with Consumer Duty’s practical implications. “We see a real opportunity to help advisers translate Consumer Duty into genuine consumer understanding,” Hopcroft notes. “If the end client truly understands and engages with what they’ve bought, why they’ve bought it, what it’s there to do, and how is it performing in order to deliver, then that’s transformative.”
That’s why Aberdeen’s service model increasingly focuses on client engagement and education. “We’re developing tools and materials that we hope will help advisers have those conversations. If we can help them to simplify complex investment ideas into language and visuals that clients can really relate to, then we’re doing our job.”
Aberdeen’s MPS is designed to combine competitive pricing, consistent performance, and high-quality service
It’s a collaborative approach that aims to strengthen the adviser-client bond while reinforcing Aberdeen’s role as a trusted partner with the adviser and their business. “Our goal is to be an extension of the adviser’s team,” says Hopcroft. “When we do our job right, we make their job easier and their clients’ experience better. That’s win-win.”
Why MPS growth is far from finished
Despite its apparent maturity, it seems that the MPS market still has plenty of runway ahead. “There’s absolutely no sign of slowdown,” says Hopcroft. “In fact, it’s the opposite.”
He points to the data: over the past 12 months, MPS assets have grown by around 25% year-on-year, while platform assets overall were up by around just 5%. “For the first time ever,” he says, “more money was invested in MPS solutions than in traditional funds. That’s a big moment.”
Even tax changes, such as adjustments to Capital Gains Tax, haven’t slowed momentum. “If anything, it’s leading to innovation,” he adds. “We’re seeing some providers looking at unitising their MPS solutions.”
Still, with so many providers now active in the space, Hopcroft expects a degree of consolidation. “When 50–60% of flows are going to the top 10 providers, that tells you something,” he says. “Over the next few years, I think we’ll see some rationalisation, both in portfolios and in the number of players overall.”
That’s no bad thing for advisers or their clients. “The market will mature, quality will rise, and clients will be better served,” he predicts. “The future of MPS is about depth and partnership, not just breadth of choice.”
MPS as a cornerstone of client trust
For Hopcroft, the biggest value of MPS isn’t just boosting operational efficiency or regulatory alignment — it’s the trust it helps build with the client.
“When a client can see that their investments are being managed professionally, and that their adviser is focusing on their goals and wellbeing, it changes the whole dynamic,” he says. “It moves the conversation away from ‘what’s the market done this quarter?’ to ‘are we on track for the life you want?’”
That mindset shift is particularly valuable in today’s volatile world. “Clients want reassurance,” he adds. “They want to know that someone is watching over their portfolio day-to-day, and that their adviser has the right partners in place. MPS delivers that sense of control and continuity.”
The Aberdeen advantage: depth, partnership, purpose
As the conversation draws to a close, Hopcroft reflects on Aberdeen’s role in this evolving space. “Our MPS proposition is built on three pillars,” he says. “Depth of expertise, partnership with advisers, and a clear purpose: helping clients achieve better long-term outcomes.”
MPS is now a central part of how advisers deliver value
That depth of expertise comes from Aberdeen’s global research teams, asset allocation specialists, and risk management professionals. The partnership element comes from how the firm collaborates with advisers to tailor solutions and support their client engagement efforts. And the purpose, aiming to deliver sustainable, long-term value, remains at the heart of everything.
“It’s about alignment,” Hopcroft summarises. “We want to be fully aligned with advisers, so they can be fully aligned with their clients. That’s the only way this industry moves forward.”
The future is collaborative
As regulation, technology, and client expectations continue to reshape the advice landscape, the line between product provider and strategic partner is blurring. Aberdeen is leaning firmly into that new reality.
“We’re not just offering an MPS,” Hopcroft says. “We’re offering a partnership model. Advisers want to work with investment providers they can trust, who understand their pressures, who can help them meet regulatory obligations, and who care as much about the end client as they do.”
With Consumer Duty embedding, MPS adoption accelerating, and the industry heading toward consolidation, Aberdeen’s experience and stability make it well-placed to lead the next phase of MPS evolution.
“There’s still a long way to go,” Hopcroft concludes. “But MPS is now a central part of how advisers deliver value. And as advisers continue to focus on understanding their clients and putting outcomes first, we’ll be right there beside them, making sure our solutions help them do exactly that.”
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About Mark Hopcroft
Mark is Head of Investment Solutions at Aberdeen Adviser. He joined Aberdeen in September 2025 from Timeline where he previously worked as Head of Strategic Partnerships. Mark leads the distribution, marketing and operational elements of the business and sits on the board of Aberdeen Portfolio Solutions Limited, where his responsibilities include oversight of the investment mandate with Aberdeen Investments for the range of Aberdeen MPS solutions.
Mark focuses on identifying strategic, propositional and relationship opportunities that drive positive client experiences and customer outcomes, and is a huge advocate of a service-oriented outlook and looks to create value and opportunity for all parties. Mark has 35 years’ financial services experience, in senior leadership roles, both in the UK and overseas. He has a broad and deep understanding of the financial services market and is passionate about its development and progress. He holds an MBA from Lincoln Business School where he graduated with distinction.
