Defaqto reveals top 10 recommended Adviser Platforms in 2024

Defaqto, one of the UK’s most trusted sources of financial product and market intelligence, has identified the top 10 most recommended adviser platforms by value for 2024.

The findings are from Defaqto’s whole of market data which includes more than 18,000 funds, 2,800 DFM MPS portfolios, platforms and products.

Quilter tops the table as the most recommended adviser platform in 2024, followed closely by Aviva. 

A substantial gap is notable between the two leading platforms and the rest of the providers in the top 10, with Transact slightly ahead of AJ Bell, and abrdn featuring in the top ten twice without reaching the volumes of the top two adviser platforms. 

 
 

Top 10 Adviser Platform Products 2024

PositionProviderPlatform % of top 10
1QuilterQuilter Investment Platform27%
2AvivaAviva Platform24%
3TransactTransact10%
4AJ BellAJ Bell10%
5FidelityFidelity Adviser Solutions7%
6Aegon Aegon Retirement Choices(ARC)6%
7abrdnabrdn Wrap5%
8abrdnabrdn Elevate5%
9Scottish WidowsScottish Widows Platform3%
10True PotentialTrue Potential Platform3%

Of the top 10 platforms, seven held a Defaqto gold service rating in 2024, demonstrating the importance of service to the advisers and their clients.

Defaqto Adviser Platform Service Rating 2024

ProviderProductService rating
QuilterQuilter Investment PlatformGold
AvivaAviva PlatformGold
TransactTransactGold
AJ BellA J Bell Gold
FidelityFidelity Adviser SolutionsGold
Aegon Aegon Retirement Choices(ARC)Silver
abrdnabrdn WrapNot rated
abrdnabrdn ElevateGold
Scottish WidowsScottish Widows PlatformSilver
True PotentialTrue Potential PlatformGold

Darren Winfield, Defaqto Insight consultant, commented: 

 
 

“With technology upgrades and transfer issues now in the past for most adviser platforms, the marketplace is more robust for advisers. However, the impact of consumer duty over the past year has brought charges and cash interest rates into view. The FCA expects advisers to go beyond researching the platform. Instead, advisers are required to conduct firm due diligence before entrusting the platform with their clients’ assets. This should include an analysis of whether the overall cost to the consumer provides fair value as well as the risk of foreseeable harm endangering that expected customer outcome.”

The above data is drawn from Defaqto Engage; the adviser research software used by more than 8,600 advisers in the UK to help their clients make smarter financial decisions. It depicts the most popular single asset solutions chosen through the research software, by a representational cross section of the UK financial adviser market.  

Defaqto Engage consolidates all the information advisers need into one software solution, providing a comprehensive holistic service. It gives advisers the power to model a client’s financial objectives, capture risk profiles, conduct investment research, and oversee client reviews – all from one place. Recognised by advisers as a trusted source of financial product and market intelligence, recommendations of £50bn annually go through the system.

More information about Defaqto Engage can be found at www.defaqto.com/solutions/engage 

 
 

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