Continued market volatility has resulted in total platform assets dropping by 6.62% compared to the first quarter of the year, with advised also falling just over 6% in Q2, according to the lang cat’s latest quarterly Platform Market Scorecard.
Statistics from the consultancy showed sales across all channels were down by 5.31% on Q1 2022 to total £27.9bn. Net sales were down 21.17% compared to Q1, totalling £8.92bn. Outflows increased marginally to £18.90bn (Q1 2022: £18.10bn), it added. The lang cat said advised platforms "showed resilience in the face of the economic headwinds" with gross sales of £19.38bn, down 8.37% on the previous quarter, while net sales came in at £8.85bn (-11.57% on Q1 2022). It said: "Though a large deal for Multrees paints a slightly better picture (and slightly skews the firm-level data) advisers ...
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