Platform sales hit record high in Q2 as Budget boosts sentiment

Anna Fedorova
clock

Platform sales reached a new record in the second quarter, according to a Fundscape report which pointed to Budget reforms as a key driver of the surge in interest.

Net sales from April to June rose 21% on like-for-like sales in 2013 to £11bn, according to the consultancy's platform report. Gross sales rose by 19% to £21.2bn. Fidelity, Hargreaves Lansdown and Standard Life saw the strongest inflows during the quarter: combined net sales on the three platforms accounted for half of total net sales. Retail advised sales remained strong despite the continued rise of direct to consumer (D2C) platforms, accounting for almost half of all platform sales on the quarter, Fundscape added - with Standard Life a particular beneficiary. > Read: Why the pla...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Wealthtime signs ten-year deal with Wipro to overhaul platform

Wealthtime signs ten-year deal with Wipro to overhaul platform

The firm will use Wipro's artificial intelligence

Sahar Nazir
clock 01 April 2025 • 2 min read
Adviser platform assets up to £616.2bn in 2024

Adviser platform assets up to £616.2bn in 2024

Strong advised platform new business throughout 2024

Jenna Brown
clock 19 March 2025 • 3 min read
Aberdeen's Kenny: 'We need to get our flows into positive territory'

Aberdeen's Kenny: 'We need to get our flows into positive territory'

CDO on service, technology and ‘moving the dial’

Isabel Baxter
clock 13 March 2025 • 4 min read