Quilter has been named the most recommended adviser platform in 2024, according to Defaqto.
It accounted for a 27% share of the top 10 table, closely followed by Aviva (24%).
The findings are from Defaqto’s whole of market data which includes more than 18,000 funds and 2,800 DFM MPS portfolios, platforms and products.
Defaqto said the results highlight a substantial gap between the two leading platforms and the rest of the providers in the top 10, with Transact slightly ahead of AJ Bell and abrdn featuring twice but without reaching the volumes of the top two adviser platforms.
Of the top 10 platforms, seven, including Quilter and Aviva, held a Defaqto gold service rating in 2024, the firm said.
Darren Winfield, insight consultant at Defaqto, commented: “With technology upgrades and transfer issues now in the past for most adviser platforms, the marketplace is more robust for advisers. However, the impact of consumer duty over the past year has brought charges and cash interest rates into view.
“The FCA expects advisers to go beyond researching the platform. Instead, advisers are required to conduct firm due diligence before entrusting the platform with their clients’ assets. This should include an analysis of whether the overall cost to the consumer provides fair value as well as the risk of foreseeable harm endangering that expected customer outcome.”
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