Embark Platform

About Embark Platform

Embark Platform operates as a key part of Embark Group, a financial services business that provides retirement and investment solutions. The platform specifically serves financial advisers, offering them the technology to manage their clients' investments and retirement planning. Embark Group was formed in 2013 as a digitally focused retirement solutions business. The Embark Platform was launched in November 2017 to provide a cost-effective service for advisers, particularly for clients with portfolios between £25,000 and £150,000. A significant milestone occurred in January 2022 when Embark Group was acquired by Lloyds Banking Group for £390 million, a move intended to enhance Lloyds' wealth proposition and digitize its retirement services. Following the acquisition, Embark Platform announced in May 2023 that it would be rebranding to Scottish Widows Platform. The platform's business model is centered on providing 'Platform as a Service' and white-label solutions to financial advisers, wealth managers, and institutions. This allows partners to use Embark's technology under their own brand. The platform generates revenue through platform fees, with a competitive pricing structure. It provides advisers with access to a wide range of investment options, including over 4,000 mutual funds, various ETFs, and model portfolios from investment managers. Key features include real-time transactions without wet signatures, an integrated Capital Gains Tax tool, and API data linkage to other business tools like CRMs. The product wrappers available include SIPPs, ISAs, and General Investment Accounts (GIA).