'Re:Platforming' - Why are half the market's advised assets in transition?

Part one of a new series

Tom Ellis
clock • 5 min read

In the first of a new series analysing the trend for 're-platforming', Tom Ellis assesses why half the market's assets under administration (AUA) are either changing tech provider or undergoing major upgrades.

To better understand why more than £220bn of assets on adviser platforms are 'in transition' - and what that means for advisers and their clients - Professional Adviser, with the assistance of the lang cat, sent a survey of 70 questions to all seven of those currently undergoing re-platforming projects: Aegon, Alliance Trust Savings, Ascentric, Aviva, Cofunds, FundsNetwork and Old Mutual Wealth. These seven platforms have a combined £226bn AUA, representing almost half the total £460bn AUA across the whole platform sector, and are all undertaking "huge IT, asset and data migration projec...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

M&G sues Royal London for £27m over client access to 'inappropriately risky investments'- reports

M&G sues Royal London for £27m over client access to 'inappropriately risky investments'- reports

Over Ascentric purchase

Linus Uhlig
clock 23 December 2024 • 2 min read
How adviser platforms bridge Consumer Duty and vulnerable client care

How adviser platforms bridge Consumer Duty and vulnerable client care

'For vulnerable clients, the concept of value for money takes on heightened importance'

Darren Winfield
clock 16 December 2024 • 5 min read
Platform due diligence: A comprehensive approach

Platform due diligence: A comprehensive approach

Due diligence is more than best practice it is ‘fundamental'

Stephen Ford
clock 18 November 2024 • 4 min read