This article was first published by Citywire New Model Adviser on 29th September 2026.
Citywire recently looked at the rapid expansion of direct-to-consumer investment platforms and what this means for the traditional adviser market. One of our financial planners, Olivia Perry, was asked to share her thoughts:
Apps, ads, AI: Why D2C platforms are outpacing advice market
Connor Broadley planner Olivia Perry told Citywire: ‘It is common to see posters for apps like Trading 212, and they work well with how particularly younger generations want to manage their money.’
This high visibility is clearly paying off, as Trading 212 reported its 2025 UK revenue hit £277.6m, marking a 72% increase from the £161.7m recorded in 2024.
Perry also highlighted that platform charges have come down considerably, allowing access to people who might have previously felt intimidated by higher costs.
Meanwhile, in the advised market, the number of advised clients hasn’t hugely increased.
As for what this means going forward, opinions highlight both opportunities and challenges for the advised market.
‘It’s a positive that investing is no longer an abstract concept reserved for affluent families, as more people are now building long-term wealth,’ Perry said.
However, she is concerned that newer investors might take on too much investment risk without proper financial planning.
‘There is a difference between being marketed to and setting up an investment strategy,’ she said. ‘In financial planning, we work out what clients are trying to achieve and when, and what their relationship with money is like psychologically.’
Perry acknowledged that low, competitive platform charges have a clear place in the market, but traditional advisers must adapt to avoid losing future generations.
She stressed that the sector needs to shake off stereotypes of being product sellers who just take fees.
‘We’re going to have to think about how we communicate with the younger generation, think about our tech, think about the fees being charged and the real value that we’re adding. Look at what consumers want and start adapting. Otherwise, our value will be completely lost.’
The full article can be found below:
The direct-to-consumer (D2C) investment market is expanding at a faster rate than the traditional advised market, signalling a major shift in how people manage their wealth.
Last quarter, the advised market grew by about 9%, while the D2C market surged by 12%, according to The Lang Cat, which said the two markets normally grow at the same pace. The advised market was £792bn in size and the D2C market was at £586bn, The Lang Cat said last month.
Ultimately, for the first time, D2C platform statistics are rivalling the best numbers seen in the advised sector.
According to industry experts, this surge is driven by increased accessibility, changing demographics, and evolving technology.
Rich Mayor, senior analyst at The Lang Cat, said this trend started during the pandemic when a new cohort, particularly comprised of younger people, began dipping their toes into investing.
Greater awareness through social media and the availability of simple, ready-made solutions on platforms have since made investing much easier.
‘Platforms have become better at helping people understand how investing works, what you can invest in, alongside things like price comparisons,’ he said. ‘I think the potential for the D2C market hasn’t really been realised for a long time, but since the pandemic, it has grown at a rate of knots.’
People can now also research options online or use AI to plan their futures without an adviser, which comes as ‘no surprise’ to Watson Wood Financial Planning director Kevin Wood, as consumers wish to ‘take action independently.’
The rise of tech-enabled trading apps and heavy marketing have been major catalysts for this growth. Platform advertising is now widespread across public transport and social media, alongside falling platform charges.
As Connor Broadley planner Olivia Perry told Citywire: ‘It is common to see posters for apps like Trading 212, and they work well with how particularly younger generations want to manage their money.’
This high visibility is clearly paying off, as Trading 212 reported its 2025 UK revenue hit £277.6m, marking a 72% increase from the £161.7m recorded in 2024.
Perry also highlighted that platform charges have come down considerably, allowing access to people who might have previously felt intimidated by higher costs.
Meanwhile, in the advised market, the number of advised clients hasn’t hugely increased.
However, Mayor said that the two markets are at different stages of their journey: D2C is ‘up-and-coming’ and the advised is ‘more of a maturing market’. D2C customers typically have lower investable assets, whereas advised firms handle fewer but larger case sizes, with much of their growth stemming from existing assets under management.
As for what this means going forward, opinions highlight both opportunities and challenges for the advised market.
‘It’s a positive that investing is no longer an abstract concept reserved for affluent families, as more people are now building long-term wealth,’ Perry said.
However, she is concerned that newer investors might take on too much investment risk without proper financial planning.
‘There is a difference between being marketed to and setting up an investment strategy,’ she said. ‘In financial planning, we work out what clients are trying to achieve and when, and what their relationship with money is like psychologically.’
Perry acknowledged that low, competitive platform charges have a clear place in the market, but traditional advisers must adapt to avoid losing future generations.
She stressed that the sector needs to shake off stereotypes of being product sellers who just take fees.
‘We’re going to have to think about how we communicate with the younger generation, think about our tech, think about the fees being charged and the real value that we’re adding. Look at what consumers want and start adapting. Otherwise, our value will be completely lost.’
Mayor does not see the D2C growth stopping anytime soon, but instead ‘increasing as better competition comes out between the platforms and targeted support helps platforms serve clients better’.
For some people, Wood said that the expansion of D2C is a positive step, particularly if a simpler approach suits them and they may have been priced out of financial advice in the past. However, he said: ‘For those with more complex needs, it is down to the financial advice profession to continue to illustrate that we can add value here.’
