Big Three keep stranglehold on platform market

Figures published by the platform consultancy reveal Skandia, Fidelity FundsNetwork and Cofunds held 72% of platform assets at the end of 2010. "We don't see the momentum that some of the smaller platforms like to talk about and it is going to be a long, hard slog to get anywhere near these guys," says managing director Holly Mackay. However, the figures also show the big three held a larger market share in December 2009 of 78%. This subsequently dipped to 72% in the third quarter of 2010 where it remained until the end of the year. Although the big three continue to dominate in as...