The Platforms Association, which launched in September 2024 to represent the investment platforms sector, has expanded its membership to 46 founding members.

Firms from across the industry have joined the association, including those covering advisory, direct-to-consumer, hybrid, and neo/digital wealth platforms.

The newly formed trade association said it would continue to grow and planned to extend its focus into the direct-to-consumer market, as well as the mainstream neo broking community and digital wealth platforms market.

Membership is open to UK- and European-regulated firms whose primary activities are the settlement, custody and safe keeping of retail investor assets.

It is also open to regulated sub-custodian firms providing dealing and safe-keeping services to organisations acting on behalf of retail investors.

In early December, the association will launch its Leadership Council, which will set the set the priority policy focus, from which a market engagement roadmap for 2025 will be deployed.

Alongside the roadmap, the association will work to deliver a ‘range of services’ that seek to support the industry, covering policy, operational and technological issues.

Founding members include AJ Bell, BNY Pershing, Charles Stanley, Deloitte, Fidelity, Hargreaves Lansdown, Quilter, The Lang Cat, and Wealthtime.

“Since our launch announcement at the end of September, we’ve been astonished at the rate of our expansion,” said Platforms Association CEO, Keith Philips.

“Clearly, this is a sector that wants to cohere and address the issues of the day, which will ultimately benefit customers.

“We now have the largest and most recognisable investment platform as members and, just as importantly, those major players that constitute the industry ecosystem have also connected. The sector now has the opportunity to make further, significant, advancements.”

Platforms Association board of directors chair, David Moffat, added: “As the breadth and depth of our members shows, platform operators and the wider platform ecosystem are really keen to work together to address the opportunities and challenges facing the sector.

“We look forward to working with our members, other trade bodies, the FCA and HM Treasury to the wider benefit of investors, advisors and the industry.”

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