A "combination of politics and pensions" contributed to slower sales across platforms in the first three months of the year, with the year-on-year (YOY) asset growth rate also receding, according to research.
Only three platforms - Aviva, Zurich and adviser-controlled proposition Nucleus - outpaced the overall 22% rise in platform assets under administration (AUA) in the 12 months since 31 March 2014, with YOY rates of 90%, 73% and 29% respectively, according to the latest report from Fundscape. The 22% annual rate was marginally below the 24% achieved in the previous 12 months. Gross sales for the first three months of the year were slightly down on the previous quarter though still strong at £21.4bn, but net sales lacked sparkle at £9.3bn. This was below both the previous quarter's £12.1...
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