Net adviser platform flows fell to £655m in the fourth quarter of 2023, their lowest total on record, according to analyst Fundscape.
Total platform assets under management (AUM) slumped by £52.2bn to £838.4bn in the second quarter, down 5.9% on the previous quarter.
Financial Planners are no longer using cost as the main factor when selecting platforms, according to evidence in the latest Platform Report in the current Financial Planning Today magazine.
The platform sector saw continued rapid growth in the second quarter thanks to inflows from pensions including Sipps, pension transfers and pension freedoms.
News from Twitter
Articles by Keyword
AJ Bell
AMPS
annuities
Autoenrolment
Barnett Waddingham
Curtis Banks
DWP
FCA
FOS
FSCS
James Hay
Lisa Webster
Mattioli Woods
Pension
pension freedoms
pensions
pension transfers
Platforms
regulation
retirement
retirement planning
Sipp
Sipps
Ssas
Talbot and Muir
The Pensions Regulator
TPR
Webster
websterblog
Xafinity