Advisers Want Smoother Model Portfolio Platforms
A Morningstar and Lang Cat analysis finds most advisers see at least one area where model portfolio service implementation on platforms could improve.
Updated on Nov. 10, 2026 in Financial Planning
Two-thirds of advisers identified at least one gap in how model portfolio services are implemented on platforms, according to a Morningstar and Lang Cat analysis. Reducing friction in how these services operate through platforms was the top improvement advisers want.
Why it matters
Model portfolio services are widely used to deliver investment management at scale, so platform implementation gaps affect how efficiently advisers can serve clients. The findings point to specific areas where providers and platforms may focus improvements.
The Morningstar and Lang Cat analysis found that two-thirds of advisers identified at least one implementation gap, with 22% citing reporting clarity and 18% wanting broader MPS capabilities. The extraction does not specify the platforms covered or whether any providers have responded to the findings.
The players
Morningstar
Morningstar is a global investment research firm that provides data, analysis and ratings on funds, stocks and portfolio services.
The Lang Cat
The Lang Cat is a UK-based independent consultancy and research firm that analyses the financial advice and wealth management sectors.
The details
The top improvement advisers want is reduced friction in how model portfolio services operate through platforms, with clearer reporting the second most requested change. Other requests include wider access to assets and providers, better tax and capital gains handling, and stronger decumulation and income options.
Timeline
10 November 2026: Analysis on adviser survey findings on model portfolio service implementation was published.
Market Dynamics
Model portfolio services have become a central part of how UK advisers deliver investment management, and Morningstar's ongoing research tracks how that adoption is changing. These findings show that platform implementation is now a key area where the model portfolio market is being pushed to improve.
For investors using model portfolios through an adviser, platform implementation quality can affect reporting clarity, fee transparency and how easily portfolios are adjusted over time. Advisers who raise these gaps with their platforms may see changes in how services are delivered to clients.
The takeaway
Investors can ask their adviser how their model portfolio is implemented on their platform, including how reporting and rebalancing are handled. Clear answers to these questions help clarify what the service delivers in practice.
Further reading
For broader context on how advisers plan client portfolios, explore Financial Planning.
Source note: This article includes information reported by FTAdviser.
