20 May 2026 Platform Leaders, Laggards, Leapfroggers & Lynchpins
Fundscape publishes Platform Leaders, Laggards, Leapfroggers and Lynchpins – an annual review of every platform of meaningful size in the UK advised market. The report does two things. First, it classifies every platform by direction of travel. Three platforms – Aviva, Quilter and Transact – are the Leaders, pulling away from the pack. The rest are made up of three leapfroggers, seven lynchpins and five Laggards.
Second, it projects each platform individually out to 2030, under pessimistic, realistic and optimistic scenarios. In the realistic case, the industry reaches £1.5trn by 2030, growing at a compound annual rate of 13%. The pessimistic and optimistic scenarios put the 2030 figure at £1.1trn and £2trn respectively.
The current top three platforms by assets are Nucleus (£110bn), Quilter (£105bn) and Transact (£77bn). By 2030, on Fundscape’s realistic scenario, Quilter overtakes Nucleus to lead the market at £220bn, with Nucleus second at £194bn and Transact holding third at £169bn. Below the surface, the ranking is reshuffled, the gaps widen, and the disruptors are remodelling the market they intend to compete in.
Bella Caridade-Ferreira, CEO of Fundscape, said: “The UK platform industry has stopped behaving like one industry. The Leaders are running their own race, the Laggards are running out of road, and the platforms in the middle are working out which way they need to go. The cost of backing the wrong platform has never been higher. This report is our view of where each platform stands and where it is heading.
“We’ve done industry-level forecasts for years. Now, we’ve done it platform by platform, looking five years out. That’s the long view the market has been missing.”
ENDS
For further information, contact: press@fundscape.co.uk
About Fundscape:
Fundscape is a research house covering the UK retail wealth management industry, with a specific focus on platforms. Founded in 2010 by Bella Caridade-Ferreira, the firm publishes three flagship quarterly reports – the Platform Report, the Distribution Report and the Direct Matters Report – alongside bespoke analysis used by platforms, asset managers, advisers and consultants. The team brings more than 75 years of combined experience in the UK platform market.