Platform Shakeout: It’s not your fault, but it’s your problem
NextWealth’s ‘Platform Shakeout: It’s not your fault, but it’s your problem’ report forms part of our Adviser Tech Stack series.
Most third-party platforms are doing most everything right. But because a few make life difficult for advice firms, this forces a decision. Rather than a decision among existing platform providers, the decision starts with considering the right model for the platform, and a growing number are planning to launch their own platform.
We have published a separate sponsored guide to advice firms on how to approach platform selection, called Platforms Unpacked, you can download a free copy here. Firms are increasingly starting by identifying platforms that work with their target operating model and then selecting the platform that best meets client needs.
Third-party platforms may be left out of a selection process, not because they’ve done anything wrong but because of failures of another provider.
Methodology
- Online survey of 340 financial advice professionals, conducted between June and August 2024
- Data requests from ten white-label / model-b platform providers.
- Nineteen in-depth interviews with senior executives representing: four vertically- integrated financial advice firms; three consolidators; seven planning-led financial advice firms; three external compliance specialists, plus two independent industry consultants, conducted December 2024 and January 2025.
Complete the form to download a sample of the report. Alternatively, you can purchase a copy by contacting enquiries@nextwealth.co.uk.