What could you buy if you hadn't spent £1bn on re-platforming?

NHS? Newcastle Utd? Political support?

Tom Ellis
clock • 3 min read

Earlier this week it was revealed re-platformers have spent north of £1bn on their messy, long-term projects in recent years. Instead of trying to revamp platform tech, however, what else could £1bn get you?

Re-platforming projects have proved expensive and extensive for a number of players over the last couple of years. They have also been immensely difficult to complete accident-free and advisers and their clients have often suffered inconvenience and issues as a result. Some re-platformers have made public their costs, but others have not. Old Mutual Wealth, for example, has spent more than £300m on its move to FNZ technology and is set to spend £450m by the time it has completed its shift, while SJP revealed in its results on Wednesday it had now spent more than £230m on its long-term te...

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

Big players give The Platforms Association's transfer charter a miss

Big players give The Platforms Association's transfer charter a miss

AJ Bell and Parmenion choose not to sign up

Sophia Panayi
clock 25 September 2026 • 2 min read
Most platforms sign up to transfer charter

Most platforms sign up to transfer charter

Signatories include Benchmark, Fidelity International and Quilter

Sophia Panayi
clock 17 September 2026 • 3 min read
Will the incoming stocks and shares ISA cash interest levy impact platforms?

Will the incoming stocks and shares ISA cash interest levy impact platforms?

Proposed regulations yet to clarify what is an ‘acceptable’ cash holding

Sophia Panayi
clock 15 September 2026 • 5 min read