Adviser platforms’ assets under administration hit five-year high

Assets under administration (AUA) in the UK adviser platform market have hit their highest level in five years, a report from Defaqto has revealed.

Its In Focus: Adviser Platforms report said that the market has reached a new level of maturity, with 32 platforms from 27 providers in operation.

The five-year high in AUA was achieved despite a dip in 2023/24, as confidence in investment markets renewed.

The report highlighted how the market had seemingly begun to stabilise following years of expansion and consolidation.

Data from Defaqto Engage showed that Quilter and Aviva accounted for 46 per cent of adviser platform inflows in 2025.

The data also revealed that financial strength, online functionality, and target market suitability were among the most frequently used adviser selection criteria.

Due diligence, functionality, and client outcomes were found to be increasingly important in platform selection, while Consumer Duty, AI-enabled functionality, targeted support, and simplified advice were set to shape the future direction of the market.

"Adviser platforms have evolved significantly over the past two decades and are now central to the way advice firms operate and deliver client outcomes,” Defaqto insight manager wealth & protection, Andrew Duthie.

"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.

"This report brings together the key trends, developments and considerations shaping the adviser platform market today and provides advisers with a valuable overview of an increasingly important and fast-evolving sector."

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