'Overwhelming' number of IFAs use platforms - Unbiased

clock

The importance of platforms to adviser businesses has been laid bare by new research suggesting over 90% of IFA firms now use a wrap or fund supermarket.

Unbiased.co.uk polled about 1,000 advisers in June, and an overwhelming 93% of IFA firms said they now use platforms to trade on behalf of clients. Skandia Investment Solutions ranked number one in the popularity stakes as the platform most of the advisers said they used. Fidelity FundsNetwork and Cofunds are the second and third most popular platforms respectively, cementing the dominance of the big three players. The research also suggested 21% of firms use three platforms, with one third (32%) using one or two platforms and 12% more than six. Unbiased said those firms using m...

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

Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read
Aviva named the preferred platform provider by advisers

Aviva named the preferred platform provider by advisers

Quilter remains in second place followed by AJ Bell and Transact

Isabel Baxter
clock 04 March 2024 • 1 min read