One of the most common questions we get asked at NextWealth is have we reached peak MPS? Our survey of financial advice professionals for the latest NextWealth MPS Proposition Comparison Report shows that growth in discretionary MPS continues to come at the cost of ‘build your own portfolios’ and single strategy funds.

In our survey, 12% of financial advice professionals say they plan to decrease their use of adviser portfolios (build your own portfolios). With 28% of financial advice professionals still using adviser portfolios there are still significant assets yet to transition to discretionary MPS.

Figure 1 shows data from our survey of 296 financial advice professionals, conducted in June and July 2025. It shows the percentage of financial advice professionals using investment strategies for new client money and that MPS growth is coming from adviser-run portfolios.

 Figure 1: Percentage of advisers using investment strategies for new client money

46% of financial advice professionals use discretionary MPS and 25% expect to increase their use in 2026. The majority of those who expect to increase their use of MPS are financial advice professionals who are already using MPS.

Amongst financial advice professionals who are currently using MPS, 48% expect to increase their use in the next 12 months, compared to 14% of those who are not currently using MPS.

Amongst financial advice professionals who build their own portfolios, 30% expect to increase their use of MPS. This suggests a continuation of the shift from adviser-run portfolios to MPS and continued growth in assets in discretionary model portfolios.

To find out more about what is driving growth in the MPS market, how the market is changing shape and the headwinds and tailwinds for growth in DFM assets contact enquiries@nextwealth.co.uk to purchase your copy of the report. 

About the NextWealth MPS Proposition Comparison Report

The results presented in the report are based on data requests from DFMs, interviews with representatives of those firms, surveys of financial advice professionals and our knowledge and expertise of the UK financial advice and platform market. In total, this research was based on:

• Interviews with 22 representatives of DFMs operating MPS on platform.
• Data requests completed by 55 DFMs (data is accurate as of 30th September 2025).
• Pricing analysis conducted across 423 portfolios from those DFMs.
• A survey of 296 financial advice professionals, conducted in June and July 2025.

Mark Aldous

Senior Quantitative Researcher, NextWealth

FAQ:

What is driving growth in discretionary MPS?

NextWealth research shows that growth is primarily driven by advisers moving away from self-built portfolios and single-strategy funds toward outsourced discretionary solutions.

Has the UK market reached peak MPS adoption?

NextWealth research shows there is no evidence of peak adoption, as nearly half of current MPS users plan to increase usage over the next year.

Which advisers are most likely to increase MPS usage?

NextWealth research shows that advisers who already use MPS are significantly more likely to expand their allocation than non-users.