The UK adviser platform market has seen assets under administration hit a five-year high, according to a new report from Defaqto.
The findings form part of Defaqto’s first In Focus: Adviser Platforms report, which examines the growth of adviser platforms over the past two decades, the impact of regulation and technological change, and the increasing importance of due diligence, functionality and client outcomes in platform selection.
The firm said the market has reached a “new stage of maturity”, with 32 platforms from 27 providers operating in the market.
The report shows adviser platform assets under administration are at their highest level in five years, despite a dip in 2023-24, due to renewed confidence in investment markets and the solutions they offer. Defaqto said the report also highlights how the market has begun to stabilise following years of expansion and consolidation.
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.
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.
“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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