Platform assets under administration (AUA) only rose by 3.62% in Q1 as advisers' fears grew about the regulatory impact of using the technology, according to research by The Platforum.
The consultancy found AUA only increased from £146.29bn to £151.58bn across the sector with expensive features also dampening adviser enthusiasm. Wrap platforms had the greatest percentage increase in AUA but from a low base with Wealthtime recording a massive 80% rise to £0.18bn. Avalon's AUM was up 36.84% to £0.26bn while Novia and Elevate also gained momentum, up 29.63% and 25% respectively to £0.70bn and £2.50bn by the end of the period. It was a different story for the Aviva Wrap with zero growth in AUA in Q1 and assets sitting at just £0.58bn by the end of March. The insurer ...
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