Platforms have seen assets under administration (AUA) surpass £500bn, thanks to record net sales of £13.3bn during the first quarter of 2017.
According to the quarterly Fundscape Platform Report, assets under administration rose 6% during the quarter to £520bn. The top five platforms ranked by AUA were Cofunds, Fidelity, Hargreaves Lansdown, Standard Life and Old Mutual. Between them, these platforms accounted for around two-thirds of industry assets. Net sales rose 27% on the previous quarter and were up 39% year-on-year to £13.3bn from £10.5bn in Q4. Platform sales lift in Q4 as 'wall of cash' trickles in Standard Life in particular saw net sales of £1.9bn in Q1, with the report describing how the firm has "punched ...
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