Platform market updates
Our in-house research analysts at threesixty have recently updated our platform comparison research using DD|hub, threesixty’s research and due diligence system. The system currently includes 22 adviser platforms and offers 80 standard and 40 advanced filters, enabling advisers to research, review, and evidence their platform choices effectively.
There have been several changes since our last update in January, particularly around platform features and functionality.
Platform charges have been revised, with Transact removing their initial buy commission charge of 0.05%.
It’s also worth noting that many platforms are now conducting their annual Consumer Duty reviews. As part of this, Target Market Statements and Fair Value Assessments are being refreshed and are now available on DD|hub.
Insight into service delivery continues to be a key consideration for advisers comparing platforms. We’ve introduced Net Promoter Scores (NPS) into the system. Providers are updating their latest scores, most have shown an improvement over the past year.
Product updates
There have been notable developments in platform product availability:
- Morningstar has expanded its offshore bond offerings, now including Canada Life International and Utmost (both Ireland and Isle of Man versions)
- Transact has confirmed its Trustee Investment Plan is now available on-platform
- Fidelity can now facilitate transfers of remaining Child Trust Funds into its Junior ISA
In terms of investment options:
- Fidelity now discloses the number of investment trusts and ETFs available and has confirmed that corporate bonds are not offered
- M&G Wealth has made the full PruFund range available on their platform
The acceptance of Defined Benefit (DB) transfers remains a topic of interest. Platforms including Benchmark Capital and AJ Bell have clarified their positions, which now include more detailed due diligence on the adviser firm's business model and target market.
Product cash
Cash interest rates continue to attract attention. While rates have come down from recent highs, there is still considerable variation in how platforms pay interest on cash holdings. Most operate tiered systems linked to the Bank of England base rate.
Financial strength
Platform AKG ratings remain one of the most frequently used filter criteria. AKG has recently revised its methodology for assessing platforms, and provider ratings are currently being updated. Firms may need to revisit their platform criteria and consider AKG alongside complementary DD|hub due diligence questions related to financial strength.
Next update
Our next platform research update is scheduled for June 2025, but firms can access the most up-to-date information at any time via DD|hub. You can also opt to receive real-time updates through the ‘provider follow’ function within the system’s due diligence section.
DD|hub due diligence demonstration
We regularly host short webinars, demonstrating how to conduct research and due diligence on platforms and other services offered by DD|hub.
You can register for these webinar demonstrations via the Upcoming events section of our client portal.
