Advisers scale back platform usage, reveals research

‘Platforms may be in for a bumpy ride over the next few months’

Ayesha Venkataraman
clock • 2 min read

Advisers are set to place less business on platforms as UK investors grapple with the cost-of-living crisis, according to the results of the latest survey by Coredata Research.

The survey found that only a third (33%) of advisers plan to increase business on their main platform over the next 12 months - down from nearly half (44%) in 2021. Additionally, daily platform usage by advisers has already plummeted from 71% in 2021 to 55%, while the daily usage by advisers focused on mass market clients has fallen to 48% from 73% in 2021. The survey of 420 UK financial advisers was conducted in June 2022, and found that Transact is the most used platform, followed by Quilter, Aviva and abrdn. Popular products The survey also found that annuities and income drawdo...

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