Assets under management and administration rose 8% year-on-year (as at 26 March), according to the latest adviser platform report from Defaqto.
Assets have risen, following a dip in 2023/24, due to renewed confidence in investment markets as the adviser platform market reaches a ‘new stage of maturity’ according to the data provider.
There are now 32 platforms from 27 providers operating in the adviser market.
Analysis of recommendations made through Defaqto Engage during 2025 found Quilter and Aviva accounted for 46% of adviser platform inflows, while financial strength, online functionality and target market suitability were among the most frequently used adviser selection criteria.
Top 10 adviser platforms 2025
Source: Defaqto Engage, 3 June 2026
Andrew Duthie, insight manager wealth & protection at Defaqto, said: "Adviser platforms have evolved significantly over the past two decades and are now central to the way advice firms operate and deliver client outcomes.
"As the market continues to develop, advisers are balancing increasing expectations around due diligence, service, functionality and Consumer Duty with the opportunities created by technology, automation and digital servicing.”
The report says that technology has played a significant role in the expansion of adviser platforms, with online functionality undergoing a ‘digital transformation’ and the rise of API connectivity improving both efficiency and transparency.
It expects the next big technological change driving the future of adviser platforms to be the adoption of AI. It claims that AI- powered insights, deeper data integration, and personalised digital experiences ‘are set to define the next generation of adviser platforms’, driving ‘smarter, more connected financial planning’.
However, it warns the AI also brings a threat to adviser platforms as it may drive more consumers towards digital services in the direct-to-consumer market.