Net flows from advisers doubled in 2021 to £3.9bn for investment manager and platform provider Abrdn (2020: £1.9bn).

The chief executive of Standard Life Aberdeen’s platforms businesses, Noel Butwell, has admitted that the firm has not listened to advisers due to being distracted by internal projects.

Standard Life Wrap, the adviser platform, is to simplify and cut charges by April in a major overhaul of its pricing structure.