Platforms experienced a 'record-breaking' first quarter after seeing the highest quarterly sales on record, with assets under management (AUA) reaching £520bn, Fundscape has found.
According to the firm's latest platform report platforms achieved net sales of £13.3bn in the first quarter of the year, representing a 27% increase on Q4 2016 and a 39% increase on Q1 2016. The report said, with a couple of exceptions, every platform experienced higher net sales in the period. The driver behind the inflows were the government's pension freedom reforms in 2015 and the resulting pension transfers, Fundscape said. Self-invested personal pensions (SIPPs) and personal pensions accounted for the largest share of assets and sales in Q1, with £158.3bn (30.5%) of AUA and £...
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