Last week we published the quarterly Platform Report, which attracted much attention. Total industry assets now stand at £267bn, and although it was the quietest quarter of the year, gross and net flows were pretty robust at £17bn and £8.9bn. (Download press release here and 60-second reviews here).
The summer period is usually one of the quieter quarters of the year, but an improving economic outlook and the ongoing effect of the Retail Distribution Review (RDR) led to a bumper quarter for platforms. Total platform assets under administration were £267bn, up 7% in the second quarter, and comfortably ahead of FTSE All-Share growth of 5%.