Active accounts rose 7% to reach 3.4m in the year ended December 2021.

Two thirds (66%) of the assets held on Composer in 2021 were within pension wrappers, in comparison to 49% across all advised platforms according to the lang cat.

In 2021 GBST moved the Composer platform to cloud-based technology which the technology provider said allowed clients to benefit from increased integration options, lower technology operating costs, and a more intuitive user experience.

David Simpson, head of EMEA at GBST, said: “We are strongly positioned to drive further growth, accelerate the development of our financial services technology and digital solutions, and explore new opportunities to support existing and prospective clients.”

In December GBST was part of an ongoing battle with the Competition and Markets Authority (CMA) after the CMA blocked its sale to rival platform engine provider FNZ.

In June the CMA ordered FNZ to sell off GBST's platform arm after concluding that the £150m merger of FNZ and GBST risked reducing competition in the UK platform market.

FNZ sold GBST to a private equity firm as a result in December. 

Anchorage Capital Partners is an Australian-headquartered global private equity firm with experience in the financial services sector. It has managed commitments from investors of around £534 million.