More advisers change platforms following Consumer Duty

Advisers are more confident to make switches to improve client experience

Isabel Baxter
clock • 1 min read

More than a third (34%) of advisers have changed one or more of their preferred platforms in the last 12 months, Defaqto has found.

This is compared to 28% the previous year and 19% in the year before, Defaqto's annual Platform Service Review found. It also found that adviser satisfaction levels have fallen. On average, satisfaction scores fell by seven percentage points, with the top five most important categories for advisers suffering the most. Some dropped by as much as ten percentage points. Advisers are changing platforms more than ever, Defaqto found, with 34% saying they had changed their main platform provider in the last 12 months. This has grown six percentage points since last year and the number ha...

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