Cofunds extends lead as UK's biggest platform

clock

Cofunds has extended its lead as the UK's largest platform, with assets rising to £45bn, according to the Platforum's latest pricing guide.

The platform posted 35% year-on-year growth of assets under administration (AUA) in the period ending 30 September, taking its total to £45.04bn. Rival platforms Skandia (£40.64m) and Fidelity FundsNetwork (£38.35m), grew 10% and 17% respectively. The largest risers in percentage terms included Aviva (up 74% to £1.06bn), Axa Elevate (up 56% to £4.79bn) and Novia (up 52% to £1.51bn). The report also contains a number of tables on platform administration fees, which managing director Holly Mackay (pictured) said were still "extremely hard" to compare. "By the time you think about ...

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

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
Bravura returns to profitability in H1 amid business 'reset'

Bravura returns to profitability in H1 amid business 'reset'

Platform technology provider gross revenues up 7.4% in first half

Jenna Brown
clock 20 February 2024 • 1 min read
So far, so bleak: Incumbent platforms' miserable year

So far, so bleak: Incumbent platforms' miserable year

'There are firms that are trying to buck the trend'

Alex Cowan-Sanluis
clock 14 February 2024 • 4 min read