Adviser assets on platforms soar in Q3

clock

Platform assets grew nearly 19% in Q3 underlining the rapid growth of the sector in the run up to the RDR, according to research by The Platforum.

During the period, IFA platform assets under administration (AUA) rose from £71.4bn to £84.9bn. Three quarters of advisers surveyed also say their practice has improved ‘dramatically' since they adopted platforms with only 3% saying they were ‘disappointed' with the outcome. The figures also highlight the emergence of a "big three" - consisting of Skandia, Cofunds and FundsNetwork - dominating the market by some distance. Topping the asset table is Skandia which has £30.9bn AUA; a 16.6% increase from Q2 2009. In second spot is Cofunds, with £20.4bn AUA, marking a 24.4% rise duri...

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