Scottish Widows Platform retains highest AKG Financial Strength Rating

28 January 2026

The Scottish Widows Platform has again received the highest possible platform financial strength rating from leading financial analytics firm AKG. At provider level, Scottish Widows also holds AKG’s highest overall ‘A’ rating. Both ratings denote superior financial strength in the UK platform market.

Clear assessment criteria:

AKG assessed Scottish Widows Platform against: 

• Its ability to deliver ongoing operational service for customers 
• Its business performance 
• The level of parental support from Lloyds Banking Group 
• Its management capability and longterm strategy.

Scottish Widows Platform remains one of only five UK platforms to retain AKG’s toptier ‘A’ financial strength rating.

Why the rating matters:

AKG’s independent analysis gives financial advisers a consistent benchmark to evaluate a provider’s longterm operational resilience, financial strength, and ability to invest in digital capabilities. Maintaining the 'A' rating signals Scottish Widows Platform’s commitment to supporting advisers and their clients with a stable, futureproof service.

Context for advisers:

With Consumer Duty and the need to avoid foreseeable harm now central to advice firms’ strategies, understanding provider financial strength is a critical business requirement. Findings from the latest Scottish Widows Investor Confidence Barometer show that 63% of advisers are concerned about the impact a potential platform failure could have on their business.

Commentary: Scottish Widows

Jenny Davidson, Intermediary Wealth Director at Scottish Widows, said: 
“Retaining AKG’s top ‘A’ rating for another year is a strong endorsement of the work we’re doing. It demonstrates that the Scottish Widows Platform remains dependable, consistent and continually evolving to meet the needs of advisers. Independent assessments like this really matter when firms are evaluating existing partners or choosing new ones. By drawing on the full strength and scale of Lloyds Banking Group, we are focused on improving adviser and client experience, helping firms grow their businesses, and supporting great client outcomes.”

Commentary: AKG

Matt Ward, Communications Director at AKG, said: 
“AKG’s latest assessment confirms that Scottish Widows Platform has retained an ‘A’ rating for financial strength – the highest level available in the platform sector. Our analysis reflects a business that has moved beyond its transformation phase into a stable operating position, supported by an appropriate capital base, improving financial performance, and a simplified and scalable platform model. Integration within Scottish Widows and Lloyds Banking Group provides a strong structural foundation for ongoing operational resilience and longterm development.” 

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Notes

About Scottish Widows

Founded in 1815, Scottish Widows is part of Lloyds Banking Group, the UK’s largest digital bank and financial services group. With more than £232bn assets under administration and more than 6 million customers, Scottish Widows’ award-winning product range includes workplace and individual pensions, annuities, life cover, critical illness and income protection, as well as savings and investment products. More than 2 million customers access Scottish Widows products and services through the Lloyds Bank and Scottish Widows apps, in addition to accessing directly through independent financial advisers.

About Scottish Widows Platform

Scottish Widows Platform is an investment services platform for financial advisers, offering investment products, innovative technology, and tools designed to simplify and enhance their proposition to clients. The platform manages the pensions and investments of over 170,000 advised clients. Scottish Widows Platform is a trading name of Embark Investment Services Limited (EISL), which is part of Embark Group. Embark Group and Scottish Widows are part of the Lloyds Banking Group.

About AKG

AKG, part of the Defaqto Data and Software division of the Fintel Group, is an independent organisation whose core purpose is the provision of financial analysis, ratings and review services to support the wider financial services sector and its customers.

AKG’s financial strength rating takes account of a range of criteria including: capital & asset position; expense position & profitability; structure & size of funds within the company; parental strength (and likely attitude towards supporting the company); operational capability; management strength & capability; strategic position & rationale; brand and image; typical fund performance and product/service features; operating environment; and ability to withstand external forces. https://www.akg.co.uk

AKG rates companies across a range of peer assessment sectors, including Platform, Provider and DFM.