Scottish Widows Platform maintains highest AKG financial strength ranking

Scottish Widows Intermediary Platform has been awarded the highest level of platform financial strength by leading financial analytics firm AKG, with Scottish Widows also awarded the highest ‘A’ rating at overall provider level¹. These ratings recognise ‘superior’ financial strength in the market. 

Scottish Widows Platform financial strength was assessed based on its ability to provide ongoing operational service to its customers, business performance, parental support from Lloyds Banking Group, and its management capability and strategy. The Platform remains one of only five UK platforms to hold the AKG’s superior platform rating of ‘A’ for financial strength.

AKG’s independent rating provides financial advisers with an objective benchmark to help them verify a provider’s long-term operational durability, as well as its capacity to invest in the digital functionality and service advisers and clients require. Maintaining this rating gives assurance to advisers that Scottish Widows Platform is committed to helping them provide their clients with a first-class service and grow their client base.

With Consumer Duty and the requirement to avoid ‘foreseeable harms’ being key priorities for advisers, being able to identify financial strength has become a strategic business need for advice firms. This is demonstrated in the findings of Scottish Widows’ most recent Investor Confidence Barometer, which reveals that 63% of financial advisers are concerned about the impact a potential platform collapse would have on their business.

Jenny Davidson, Intermediary Wealth Director, Scottish Widows, said: “Retaining AKG’s top ‘A’ rating for another year is a strong endorsement of what we’re doing. It shows we’re continuing to provide a platform that’s dependable, consistent and genuinely evolving to meet the needs of the market. Independent ratings like this matter to advice firms, whether they’re reviewing existing partners or deciding who they want to work with in the future.

“By drawing on the full strength and scale of Lloyds Banking Group, we’re focused on making a real difference to the adviser and client experience – helping advisers grow their businesses and deliver great outcomes for their clients.”

Matt Ward, Communications Director, AKG said: 

“AKG’s latest assessment confirms that Scottish Widows Platform has retained an ‘A’ rating for financial strength, the highest level awarded in the platform sector. Our analysis reflects a business that has moved beyond a period of transformation into a more stable operating position, supported by an appropriate capital base, improving financial performance and a simplified, scalable platform model. The Platform’s integration within Scottish Widows and Lloyds Banking Group provides a strong structural backdrop for continued operational resilience and long-term development.”