Pension freedoms drive 'record-breaking' platform flows in Q1

AUA passes £500bn mark

Victoria McKeever
clock • 2 min read

Platforms experienced a 'record-breaking' first quarter after seeing the highest quarterly sales on record, with assets under management (AUA) reaching £520bn, Fundscape has found.

According to the firm's latest platform report platforms achieved net sales of £13.3bn in the first quarter of the year, representing a 27% increase on Q4 2016 and a 39% increase on Q1 2016. The report said, with a couple of exceptions, every platform experienced higher net sales in the period. The driver behind the inflows were the government's pension freedom reforms in 2015 and the resulting pension transfers, Fundscape said. Self-invested personal pensions (SIPPs) and personal pensions accounted for the largest share of assets and sales in Q1, with £158.3bn (30.5%) of AUA and £...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read
Aviva named the preferred platform provider by advisers

Aviva named the preferred platform provider by advisers

Quilter remains in second place followed by AJ Bell and Transact

Isabel Baxter
clock 04 March 2024 • 1 min read