DIY investment platforms and robo advisers saw account numbers soar to an all-time high during Q1, despite the coronavirus stockmarket crash, according to analysis from Boring Money.
Assets held by the UK's DIY and robo platforms fell 13.4% in Q1, the research firm said, but that was largely attributed to the sharp falls in global stockmarkets, rather than a loss of appetite from investors. In fact, customer numbers on average rose 3.1% across all providers.
Boring Money managing director Holly Mackay said: "Although it is too soon to have a fuller picture of what Q2 numbers will look like, we know that investor appetite remains high. We anticipate customer numbers will continue to grow.
"Platforms have reported strong trading activity and we have not seen the exodus that other market crashes have heralded in the retail space."
She added: "Our research indicates that after the crash, 54% of investors were planning on buying, with trackers and global solutions being the preferred route. Just 2% reported they were planning to sell."
The average fall in assets across the UK's six largest D2C platform providers - Hargreaves Lansdown, interactive investor, Fidelity, AJ Bell, Barclays and Halifax - stood at 15.1%.
Robo advisers saw mixed results, with some seeing growth of as much as 14.4% and others declining by 5.9%.
Vanguard, meanwhile, bucked the trend, posting 14% growth in assets to reach £2.6bn in the UK. The US-based firm also saw the fastest growth in customer numbers, at 35%.
Hargreaves Lansdown saw growth of 7.4%, outdone by both PensionBee and AJ Bell Youinvest at 14% and 13% respectively.
Base rate 0.1%
Quilter's Jennifer Christian joins as investment specialist
Due to Covid-19
Lowest CPI reading since August 2016
North American Equity fund
As important as DB transfers
Customer numbers rise an average 3.1% across all providers
It’s The Pro Adviser Podcast
Defer to 2021/2022