Just four of the 21 platforms monitored by The Lang Cat had higher total assets under administration than 12 months earlier, data shows.
The platforms were True Potential, Hubwise, Multrees, and Morningstar Wealth Platform. The numbers reflect what was a very a difficult year for the industry against a backdrop of high inflation, rate rises and the war in Ukraine. A fourth quarter recovery in asset values, aided by a stock market rise, was not enough to move more platforms into positive territory at the end of a tough calendar year, The Lang Cat said. Since 2021, the consultancy's data has shown the advised platform market running quarterly outflows of around £10-11bn. The firm said that is in large part due to reti...
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