James Hay reports breaking £16bn AUA

The James Hay Partnership has today reported that it has broken through the £16bn assets under administration mark. The platform for retirement wealth planning revealed a 60% increase year on year in net inflows in Q3 2014.In the 12 months to 30 September 2014 net flows totalled £1.02 billion, a 133% increase on the previous 12 months.The platform attributed the strong quarter to Modular iPlan which it said had been a success and a "growing awareness of the benefits of its pioneering modular approach to retirement wealth planning across Sipps, ISAs and GIAs".Having recently developed the business from a pedigree Sipp provider to a full platform proposition, the company said it expected the momentum in Q3 to continue into Q4 and grow in Q1, when the pension reforms take effect. {desktop}{/desktop}{mobile}{/mobile} Alastair Conway, chief executive, said: "The feedback we're getting from advisers is that the modular approach we've taken with Sipps, NISAs and GIAs is meeting a growing need for flexibility and fair pricing."Clients and their advisers are also benefiting from our investment in technology, with over 40% of new applications now being made fully online with eSignatures."But equally important, we are finding firms looking to us as a strategic partner who can help them manage their business more effectively."Q4 is already emulating the strong growth of Q3 and I expect that to continue right through to year end and ramp up still further in Q1 and beyond when the new pension rules come into effect and clients take full advantage of increased NISA limits as part of a comprehensive retirement planning package."

James Hay reports breaking £16bn AUA

Related items