UK platform MPS market shows 'remarkable' growth

Its UK wealth management research has discovered that platform MPS now amounts to nearly a fifth (20%) of wealth management market assets excluding St. James's Place (SJP) (£927bn as at 31 December 2024). That is 16% of MPS assets including SJP (£1,112bn). Platforum noted that this growth has come as advisers continue to outsource investment management and "increasingly recommend" low-cost services and solutions. "But in a major strategic shift, advice firms are increasingly partnering with wealth managers to co-manufacture services that are tailored to the advice firms' specification...