Royal London has reported assets under administration on its Ascentric wrap platform have risen 16% to nearly £6bn, in what the company said is the wrap's "best ever quarter".
Ascentric net inflow of new assets under administration were up 34% to £392m, compared to £293m for the first quarter of 2012, pushing assets under administration to £5.9bn. The number of new adviser firms using the platform rose three-fold the company said. New life and pensions business increased by 22% to £929m in the first quarter of the year, up from £761m in the first quarter 2012. New business at Scottish Life, Royal London's pension arm, rose 29% to £698m, up from £542m in the first quarter of 2012. Bright Grey and Scottish Provident new business was up 12% to £121m, an ...
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