What do advice firms really want from their platforms?

Advice firms are open to using new platforms as long it’s in the interest of clients. Some firms will test a new platform with smaller amounts of business. Switching larger amounts of business is a more involved exercise and potentially disruptive to their client experience. Advice firms will do as much due diligence as they can, but ultimately they have to make a cost-benefit judgement based on the existing and potential client experience.

Since moving platforms is a high ‘cost’ decision for advice firms in terms of their time, administrative effort, and potential risk to the client service, it invariably requires a ‘push’ trigger in the form of pain points at their existing platform. Reduced service or poorly upgraded platform functionality are the biggest triggers here.

For more information on onboarding at Scottish Widows Platform, please see our Partner With Us page.

* Research was carried out in April 2024 with UK advice professionals at firms with assets in excess of £15m.



Our research shows that the onboarding journey is seen as a strong bellwether signal into the support model and commitment of a new platform. By extension, it should also be a key criterion for advice firms in platform reviews. The platforms that can demonstrate a differentiated onboarding journey, combining great technology with expert people in support, can ease adviser concerns and lower the barrier to switching by building a positive reputation within the advice community.

Onboarding to the Scottish Widows Platform is a slick and seamless technology-first process, which is supported by skilled people with the ability to tailor the experience to advice firms’ needs. New advice firms benefit from a Business Development Manager as an overall contact point and a Platform Onboarding consultant who develops a tailored platform training plan, backed by responsive platform support via phone and live chat.

Ranila Ravi-Burslem, Intermediary Distribution Director, Scottish Widows