Advice firms move away from generic platforms as customisation gains momentum

Advisers increasingly favour branded and customised platform models

Sahar Nazir
clock • 2 min read

The number of financial advisers primarily using outsourced third-party platforms without firm branding has declined over the past four years, according to NextWealth Platforms Unpacked.

The latest NextWealth platform research, which surveyed 340 financial advice professionals and conducted 19 in-depth interviews with industry leaders, found that in 2021, 56% of advisers relied on such platforms, but this figure has now fallen to 47% in 2024. This shift reflects a growing preference among advice firms for customised solutions that allow for greater control over client experience without taking on full regulatory responsibility. Mid-sized advice firms—those with between six and 50 advisers—are driving this trend, according to NextWealth, and are increasingly adoptin...

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 Your profession

FNZ hit with $4.6bn class action from employee shareholders

FNZ hit with $4.6bn class action from employee shareholders

Claimants argue institutional investors received new shares and warrants on more favourable terms

Sahar Nazir
clock 28 July 2025 • 1 min read
FCA drops cases against two LIBOR scandal traders amid Supreme Court judgement

FCA drops cases against two LIBOR scandal traders amid Supreme Court judgement

Tom Hayes and Carlo Palombo

Linus Uhlig
clock 28 July 2025 • 1 min read
FOS CEO Abby Thomas received £230,000 payout after sudden exit

FOS CEO Abby Thomas received £230,000 payout after sudden exit

Includes £100,000 loss of office compensation

Sahar Nazir
clock 28 July 2025 • 2 min read