Aegon platform inflows triple; confirms will not enter direct distribution

Aegon's platform saw net inflows of £0.9bn in the first quarter of the year, three times as much as in the same period last year, leading to total platform assets of £3.8bn. The provider, which welcomed its 100,000th customer on the platform in the period, said the effects of the pension flexibilities "are already visible" as its assets under management in drawdown doubled in a year and were up 20% since Q4 alone. The average policy size of new individual policies on the platform also doubled to about £68,000, the firm said. The government reformed the pension income space over the...