Tom Ellis: Aviva platform on road to recovery while Transact soars

The ever-present Transact, which has made its name through steadiness and consistency, has been creeping up the net flows leaderboard over the last few years. It was at the bottom end of the top 10 for net flows in 2015 before rising to seventh the next year, then fifth in 2017 and fourth in 2018. According to Fundscape's data, however, in the first three months of 2019 it pulled in £200m more in net flows than any other adviser platform business, adding around £900m to its books. The original ‘independent' platform has been a quiet, unassuming stalwart of the sector over the last couple...