Standard Life platform assets up 26%

Platform assets climbed to £12.6bn compared with £10bn in Q1 2011, with the number of adviser firms now up to 1,040 in total, the group said in a Q1 interim management statement on Wednesday. Average platform assets per adviser firm have also risen, from £7.9m last year to £9.2m this year, it said. SIPP customers grew by 24% year-on-year to 141,000, with assets increasing to £17.5bn. The group said the prospects for Standard Life Investments (SLI) "remain strong", despite an outflow of £1.8bn in April from one low-revenue yield mandate following a client's change in pension scheme ...