In 2026, what do I look for in investment providers that hold our clients’ money?

As you might know, I am an owner of various independent advisory companies, which means that I can search the market for the best solutions.

We have become increasingly strict about the criteria we look for in investment providers such as banks, brokerage accounts, and life assurance companies.

We only deal with companies that have more than $1 billion in assets under management (AUM), although most of our providers manage multiple billions of dollars.

The non-negotiables in 2026

1. Regulated. As an owner of regulated financial services companies myself, I am not delusional enough to believe that regulation solves everything or is always good, but providers that are regulated are more reliable.
2. A long track record. Many of our providers have been around for decades. At the very least, we want to deal with providers that have been around for fifteen years or longer.
3. Little or no debt. If a company has little or no debt, the chances of insolvency are low.
4. Segregated accounts. A segregated account is a financial or bank account where a company keeps client money completely separate from its own operational funds. This is essential for checks and balances.
5. A-rated Custodians. Investment platforms use custodians. Custodians keep client money and stocks completely separate from the platform’s own business money, as per the last point on segregated accounts. If these custodians are A-rated, the safety of clients’ money goes up dramatically. The big boys such as BNY Mellon, State Street, and JPMorgan Chase provide a lot of security.
6. The provider holds the money. Not us. I might be hit by a bus tomorrow, alongside all my staff members! However unlikely that is, the money needs to be held directly with the providers so that you can withdraw your money easily if that happens, find a new advisor, or self-invest.

The good-to-haves

1. Independent. As an independent advisor myself, I don’t like investment platforms that restrict clients to their own investments. I prefer investment platforms where I can buy most assets.
2. Personal relationships. We prefer using platforms and providers where I know the senior management team well. Just as many of our clients join because they want a personal relationship with me as the owner of the company —something most large firms can’t offer—we see the benefit of dealing with providers that are big enough to be credible but where I know the leadership team.

What I don’t look for

1. Size in isolation. I do also deal with some massive, trillion-dollar companies. But size also means a company can be impersonal. A medium-sized, A-rated company can often provide better service than a giant.
2. Positive client reviews. This one might surprise you! But the reality is that if an investment platform has 100,000+ clients, getting 100 negative reviews isn’t a red flag. It is normal in this industry, where only clients who are unhappy complain, and most happy clients recommend the advisor, not the investment platform. None of the countless positive reviews I have received have recommended the investment platforms.