However, more options could also make it harder for clients to find the right solution and, for advisers, harder to stand out from the crowd in an increasingly competitive marketplace.
Advisers can use the financial strength of their platform partner as an asset to protect and grow their client base. They can do this by communicating what it means to existing clients effectively day to day, but also by making financial strength a more prominent part of their marketing strategies.
Financial strength has long been a top consideration for advisers when selecting a platform partner. Now, they can seize the opportunity to make it an explicit part of their own offering when engaging with their clients.
Noel Butwell is chief executive of Adviser at abrdn
