Skandia UK reported a 150% rise in net inflows in Q1 compared to last year, which it attributes to the popularity of its platform and Spectrum fund range.
Skandia UK took £500m net inflows in the first three months of the year, while its assets under mangement rose 7% compared to the previous quarter to £30.3bn.
Sales of mutual funds grew by 116% to £796m compared to this time last year and ISA business rose 181%.
During the quarter, Skandia's risk-rated Spectrum funds of funds range topped £500m aggregate assets. Skandia is taking around £6m a week into these products, compared to £4m each week 12 months ago.
Meanwhile, the Skandia Investment Solutions platform had its strongest quarter ever, attracting about £1bn of net new business.
Skandia says: "The dramatic increase in sales is partly a result of returning investor confidence over the past year but also from the growing use of platforms by financial advisers and their customers.
"The portfolio construction and monitoring benefits platforms deliver to customers enable them to manage their investments more efficiently and take control of their finances. As a result, financial advisers are using platforms to manage an increasing proportion of their client's investments."
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected