Abrdn is to launch a new adviser platform which will replace the company's existing three platforms.

Known as AdviserOS, it will replace existing platforms: Wrap, Elevate and Fundzone in a major shake up for the firm's platform business.

Abrdn says the new platform will allow advisers to do less work but give clients better service.

The company says the revamp will also simplify processes for adviser firms and help them grow by cutting down on admin and improving efficiency.

The company said advisers and Financial Planners currently using its Wrap, Elevate and Fundzone platforms will be upgraded to the new platform later this year.  

Jonny Black, chief commercial and strategy officer, Abrdn Adviser, said: “There are many macro factors causing strain across the industry and it’s difficult for firms to grow when they face ever-changing regulation, economic shifts, a complex landscape of suppliers, poor service and the rising costs to provide advice.

He said the new platform will, “help advisers operate more efficiently, by helping them do less so they can focus on building relationships with their clients, giving great financial advice and growing their business.”

Noel Butwell, chief executive of Abrdn Adviser, said: “Good technology isn’t the silver bullet, so we must think beyond features and functions and prioritise personalised service, effortless experiences and guaranteed stability for our advisers.”

The company provided a list of services it said the new platform will deliver, including fully enabled e-signatures, secure email and Fundzone fully online.

It will also offer a bulk valuation service, automated adviser charging feeds and new client reporting capabilities.

The company's Wrap and Elevate platforms were named sixth and seventh most preferred platform providers in Defaqto’s annual Platform Service Review for 2023, published in March. Aviva was advisers’ preferred platform provider with Quilter in second place.