27 Feb 2025 Top 5 advice platforms take all the net flow
Having published our headline platform figures for 2024 and our five-year platform forecasts for 2024 on 29th January 2025, today we’re showcasing the Q424 and 2024 platform winners.
Asset growth
Strong stock market performance has been a boon for platforms. Fidelity was the dark horse of the year with the best asset growth across its channels. However, when looking at adviser platforms only, Quilter, Aviva and Transact topped the charts. In all cases, the top five account for around two thirds of growth.
Gross and net flows
It was no surprise to see that multi-channel platforms like Aegon, Fidelity and AJ Bell dominate these tables thanks to robust D2C, workplace and institutional activity.
Adviser platforms
Adviser platforms produced their strongest gross flows of the year but with advised outflows finally slowing, it was also the best quarter of the year for net flows. The impact of outflows is visible in the charts below — the top five adviser platforms accounted for the 129% of annual net flows!
For the third quarter in a row, the same three firms — Quilter, Aviva and Transact — were at the top of all advised tables, gross and net, quarterly and yearly. Lots of sales records were broken by these three platforms. Quilter recorded its best quarterly gross and net sales, while Aviva and Transact recorded their best quarterly gross flows and their net sales figures were the best since 2022. Also worthy of mention is 7IM, which wrote more than £1bn in gross flows and registered its best net flows since Q421.
Bella Caridade-Ferreira, CEO of Fundscape said, ‘The industry turned a corner in 2024. Gross flows were strong but outflows dragged on the net figures. The overall economic and political outlook may be gloomy but there are reasons to be optimistic and the ISA season should be comparatively buoyant.
“Looking further ahead there are reasons to be cheerful. Demand for advice will increase as clients factor in inheritance and capital gains tax into their long-term plans. In addition, the advice guidance boundary review and targeted support should give more consumers access to long-term investments and create a pipeline of additional business for advice firms and platforms.”
– Ends-
Notes to Editors:
The Platform Report is a confidential report published by Fundscape. To subscribe to the report, platforms must contribute asset and sales data on a quarterly basis. For further information about the report and Fundscape, please visit www.fundscape.co.uk.
A total of 19 platforms are included in the analysis. Platform coverage is estimated at 98% of the platform universe.
1 Hubwise gross and net institutional flows are estimated.
For further information or background please contact: press@fundscape.co.uk
Download press release here
Photo by Gene Devine on Unsplash