An independent survey has rated the different wrap and platform providers in over 150 different areas.

Research by the Finance and Technology Research Centre (F&TRC) looked at how eight different providers performed in categories including  Isas, Sipps, re-registration facilities and platform technology.

The providers that performed the best, rated ‘eee’, were Standard Life Wrap and Wealthtime which both received 20 five-star ratings in the various categories.

Ian McKenna, managing director of F&TRC, said: “I find it really refreshing that a small platform can do as well as a giant firm. It shows what a small dynamic can achieve.”

Fidelity FundsNetwork was given the lowest rating in the survey of ‘ee’ after only receiving three five-star ratings.

These were for the availability and features of its guaranteed interest annuities, messaging information on its platform technology and service level agreements.

Mr McKenna said: “It’s unfair to say that Fidelity is the worst provider as we asked around 20 firms to participate and a number didn’t respond. Providers are also very diverse and have different propositions.

“We had a benchmark of over 150 areas with 9,000 questions and it indicates just how much there is for people to look at when choosing a platform.”

Out of the remaining providers, True Potential was rated ‘eee’ and Seven IM, Aviva Wrap, AXA Elevate and Ascentric all received ‘ee+’ ratings.

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