Newly-launched trade association The Platforms Association has expanded to 46 members just two months after launching.

The trade association launched for the £1trn platforms sector in September.

The association plans to launch its Leadership Council next month.

The group will set priority policy focuses first and a market engagement roadmap for 2025 will later be rolled-out.

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

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

Firms from across the industry have joined the association, including those covering advisory, D2C, hybrid and digital wealth platforms.

Membership is open to UK and European regulated firms whose primary activities are the settlement, custody and safe keeping of retail investor assets. Membership is also open to regulated sub-custodian firms providing dealing and safe-keeping services to organisations acting on behalf of retail investors.