Last year was tough for platforms and now it seems 2020 is set to be even tougher as Fundscape has published its latest report for 2019.
According to the consultancy firm, geopolitical uncertainty, Brexit and a defined benefit (DB) transfer pipeline that tricked to a halt made 2019 a tough year for the sector. Despite this, annual asset growth was at 19% or £112bn, four times higher than the £30bn achieved in 2018. Fundscape said this upturn of assets was largely the result of increased asset values. Some platforms delivered above-average growth for the year, with True Potential showing a growth rate of 35%. Aviva followed in second with 28.4% and the Aegon Retirement Choices platform came in a close third at 28.2%. ...
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