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abrdn Wrap
Willingness to recommend
3.73/5
About the provider
abrdn Wrap offers a full and flexible range of solutions to power advisers’ service propositions. The platform supports all types of Centralised Investment Propositions (CIPs), delivering efficiencies and control on both a discretionary and advisory basis.
Wrap’s new, modern interface, tested and designed with advisers, offers a streamlined user experience so firms can spend less time on processing and more time with clients.
The platform is A-rated by AKG for financial strength, reflecting a long-term commitment to investing in world-class technology and service support. Features include:
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- one of the widest investment ranges in the market
- a complete range of multi-goal tax wrappers and comprehensive drawdown options, with a unique Drawdown Price Lock
- fully integrated portfolio management technology to support CIPs at scale
- white-labelled and customisable reporting suite, and client portal to support personalised client engagement
- business MI dashboard for quick access to key information
- Junior ISA, with no platform charge, to support family wealth planning
- access to expert technical knowledge with Techzone, and Adviser Insights that include articles which help to make complex regulatory change simple.
abrdn Wrap is more than just a platform. It has recently been relaunched as adviserOS and is developing a full range of optional services to support an adviser firm’s integration with its full business model.
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Ownership:
abrdn
AUM:
(Wrap + Elevate) £68.5bn as at 30th September 2023
Partnerships:
FNZ (core platform and administration)
NextWealth analysis
abrdn Wrap is among the largest platforms by assets. It offers excellent technical support to financial advice businesses, particularly around pensions and income drawdown. It also offers really good support for managing model portfolios on platform - both to advisers and DFMs.
The firm has invested heavily in its service levels, implementing call routing to avoid passing advisers ‘round the houses’. This year abrdn announced the launch of Adviser OS which will see the current platforms Wrap, Elevate and Fundzone sit together on one common tech stack. Abrdn aims to enable advisers to do less, achieve more for their clients and grow their business as part of the adviser vector of the overall abrdn business.
The review scores from financial advice professionals fell significantly this year, scores fell in all categories with the largest falls coming in ‘willingness to recommend’ as advisers vented their frustrations at the frictions created by the re-platforming. This is a common occurrence when a platform goes through change. Some of the comments from advice professionals show that the loyalty to a historically strong platform remains.
“Poor upgrade and communication, terrible client experience”
“Whilst the system can be clunky and there have been glitches, it is incredibly flexible to do what you want to do”
“Re-platforming hasn't been great. Service has suffered but I am sure this will improve.”
Like all platform mergers, the pain is usually felt by its adviser users. Merging 3 platforms into one is a big job, which has this come at the expense of service levels. It is important to rectify these issues before advisers lose confidence.
Integrations
Based on 340 reviews
3.7/5
Integrates One Way
Integrates Both Ways
Adviser Office (IRESS)
CURO (Time4Advice)
Enable (Best Practice)
focus:adviser (Focus Solutions)
intelliflo office (intelliflo)
Plum Software (a Morningstar company)
Xplan (Iress)
No integrations available for Cash Management
No integrations available for Cashflow Modelling
No integrations available for Client Portal
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Reviews
Willingness to recommend
Integrations
Value for money
Service
Excellent support and financial strength.
Anonymous
October 2023
Willingness to recommend
Integrations
Value for money
Service
No comment left by user
Anonymous
October 2023
Willingness to recommend
Integrations
Value for money
Service
getting worse
Anonymous
October 2023
