Purchases of investment companies by advisers and wealth managers hit a record level of £745m in the first nine months of 2017, adviser platform analysis by the Association of Investment Companies (AIC) has shown.
The total for the first three quarters of the year has already surpassed the £671m bought on adviser platforms for the entire year in 2016 and the previous year-total record of £698m in 2015. In the third quarter of 2017, investment company purchases totalled £235m, up by more than a third (35%) on the £175m of the same quarter in the previous year. AIC launches investment company online training for advisers Quarterly purchases were, however, lower than in the first and second quarters of 2017 (£252m and £257m respectively). The AIC said this reflected the trend in platform purch...
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