Advised platform asset growth has increased but net sales have slumped, according to data from The Lang Cat.
Assets across all channels improved for every platform during Q4 2023, the first time this has happened since Q4 2021. The findings revealed that advised platform asset growth is up 5.34% to £575.14bn in Q4 2023 from £545.96bn in Q3 2023. Outflows for advised platforms were up 6.88% to £14.89bn in Q4 2023 compared to Q3 2023 (£13.93bn), hitting a record high of £53.18bn for 2023. Meanwhile, these outflows "hammered" net sales to lowest total of just £1.17bn in Q4 2023, down 70.11% on Q4 2022 (£3.92bn). Out of 21 advised platforms, 11 recorded negative net sales. The 11 platforms...
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