Advised assets under management in the platform sector surpassed £500bn for the first time during Q1 this year, ending at £514bn - an increase of 30% on the same period in 2020, figures from the lang cat reveal.
The consultancy said the platform sector had not seen flows this high since the defined benefit (DB) and pension freedom boom in 2018. Figures were up 4% on Q4 last year, it added. But it also said a large increase compared to Q1 2020 is perhaps "unsurprising" given the market dip at the start of the coronavirus pandemic and the subsequent rally over the course of the year. Total advised gross flows for Q1 were up 28% and 18% on Q4 2020 and Q1 2020 to reach £21.2bn, the lang cat said. It added this was the first time since Q3 2018 that any platform has reported advised gross flows ...
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