Included in our MPS Insights 2025 report, Defaqto’s new data on the most-recommended MPS solutions shows how adviser priorities are evolving.
Defaqto’s latest data on the top ten most recommended MPS solutions for the year to the end of October 2025, shows a clear change in adviser sentiment. While familiar names still feature, notable trends reveal evolving preferences around cost, investment style and platform delivery.
The data drawn from Defaqto Engage – the adviser research software used by more than 30% of advisers in the UK to help their clients make smarter financial decisions – denotes the most popular managed portfolio solutions chosen through the research software, by a representational cross section of the UK financial adviser market, excluding recommendations made by vertically integrated distribution networks.
Table 1 Defaqto’s top ten recommended MPS 2025 (to end Oct) and 2024 (Source Defaqto)
Passive portfolios take centre stage
The most striking change this year is the rise of passive-based portfolios. In 2025, half of the top ten are primarily passive, a major shift from last year, when none featured. From these data, it seems that concerns around market concentration, particularly around the dominance of the US and the so-called ‘Magnificent 7’ in particular, are not a major factor when it comes to selecting investment solutions. Leading the way is Timeline, who’s low-cost “0.09% Tracker” range has quickly won adviser support. The Timeline 80 and Timeline 60 portfolios take first and fourth place respectively, together accounting for a quarter of the total share. With total costs as low as 0.22% and 0.23%, it appears that advisers have been increasingly focused on cost efficiency and transparency when selecting portfolios for clients in 2025.
Tatton maintains a strong hold on adviser support
Tatton, however, remains the dominant force. Across its Core and Tracker ranges, Tatton holds five positions in the top ten, representing almost half the total share. Its Core Active and Core Balanced portfolios continue to be strong favourites, reflecting adviser confidence in Tatton’s risk-based structure and consistent management approach. Meanwhile, its Tracker range – with costs around 0.36% to 0.37% – shows how the firm is adapting to demand for lower-cost, scalable models without abandoning its established reputation.
However, despite a strong showing in our IFA Magazine 2025 MPS Adviser Survey, Quilter’s WealthSelect range has seen its representation in the Defaqto top 10 falling. After featuring four times in last year’s top ten, only one WealthSelect portfolio – Managed Blend 6 – remains this year, holding a 9.35% share.. This can partly be explained by Quilter’s wide range of 56 investment options, which mean a single portfolio is less likely to feature in the ranking.
Importantly, all ten of the most recommended portfolios this year are platform-based, underlining advisers’ emphasis on operational efficiency and integration when assessing MPS options.
ESG gains a toehold but remains niche
ESG investing, while still a big part of the wider conversation that advisers are having with their clients, still has limited traction in the MPS recommendation lists. Only one ESG-labelled portfolio – ebi Vantage Earth 60 – appears in the Defaqto 2025’s top ten, marking a small but noteworthy first. This suggests that while advisers acknowledge the growing importance of sustainable investing, ESG considerations are not yet driving the core of portfolio selection decisions.
Advisers show continued appetite for balanced and higher-risk models
The overall composition of Defaqto’s top ten also reflects an ongoing appetite for risk. Every portfolio in the list sits within the balanced or higher-risk categories, with no lower-risk models appearing. This may indicate that advisers and clients remain optimistic about market prospects, supported by moderating inflation and a more stable interest rate outlook.
Due diligence factors continue to shape adviser sentiment
Comparing this year’s results with 2024 highlights how adviser sentiment continues to evolve in response to due diligence factors such as cost, performance, risk and style. Last year’s rankings were dominated by active and blended portfolios, but this year’s top ten show a strong pivot toward passive, low-cost and platform-based solutions. It’s a shift that underscores advisers’ growing focus on efficiency and consistency as key elements of client value.
Value, efficiency and structure define success in 2025
In summary, Timeline has surged to prominence on the strength of its low-cost tracker approach, while Tatton retains its leadership position through a balance of active and passive offerings. Continuing platform dominance points to an industry increasingly driven by cost transparency and ease of implementation. ESG remains a minor theme for now, and risk appetite remains firmly in the balanced-to-growth camp.
The MPS landscape, as reflected in Defaqto’s findings, continues to evolve in step with adviser priorities. In 2025, the message is clear: performance still matters, but value, efficiency and structure are what increasingly define success.
This feature was part of our MPS Insights 2025 publication – designed with advisers’ needs in mind. You can download your copy of the publication here…. https://ifamagazine.com/2025-managed-portfolio-services-mps-insights/
