Platform assets under administration fell more than 4% in Q3, according to figures from consultancy group The Platforum, which suggested advisers have begun to doubt the value of platforms to their business.
Including figures from the new Sippcentre proposition for the first time, UK retail adviser platform assets were £164bn at 30 September 2011, a decline of 4.3% for the quarter, The Platforum said. Managing director Holly Mackay (pictured) said regulatory uncertainty and market turmoil had, as expected, hampered growth, but also pointed to a surprise third factor. She said doubts over the value platforms offer adviser businesses are also now posing a challenge to the market. "Typically advisers complain about the cost but I think there is more of a focus now on value," she said. ...
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