Standard Life platform assets break £20bn barrier

Assets under administration at Standard Life's wrap platform rose by 26% last year to move above £20bn for the first time, the firm has said.

Reporting full-year results for 2014, Standard Life said wrap platform assets rose from £16.6bn to £20.9bn over the course of the year. Discretionary firms have attracted £300m of AUA to the platform since Standard Life improved access to this segment of the market last April, it added. Elsewhere the firm's fund management arm, Standard Life Investments, saw assets under management (AUM) increase by 45% to £246bn during last year, up from £170.1bn, following its acquisition of Ignis Asset Management. Third party inflows into SLI stood at £1.7bn, well down on the £9.6bn reported in ...