Skandia tops The Platforum Q4 leaderboard
Skandia has finished top of The Platforum leaderboard for the fourth quarter of 2011, finishing ahead of Nucleus in second and Cofunds in third.
The Platforum examines platforms’ performance in terms of financial strength, momentum and price on a quarterly basis and includes reviews of around 1,700 advisers.
The top five platforms in the leaderboard were made up by Standard Life in fourth place and Axa Elevate in fifth.
Nucleus was awarded The Platforum Adviser’s choice award for being the most consistently highly rated by advisers, while also being rated the best for functionality. Novia ranked first in service.
The study showed that total platform assets under administration grew by 5 per cent to £176.4bn in the fourth quarter, compared to £168bn in the third quarter.
Skandia saw a 2.8 per cent increase in its AUA from £37bn in Q3 to £38.1bn in Q4 while Cofunds saw an increase of 7 per cent from £33.4bn to £35.8bn.
Nucleus and Elevate both saw increases in their AUA between from Q3 to Q4, Nucleus rising 10 per cent from £3bn to £3.3bn and Elevate’s AUA growing 11 per cent from £3.1bn to £3.5bn.
Standard Life’s AUA increased 6.8 per cent from £10.58bn to £11.30bn.
The Platforum managing director Holly Mackay (pictured) says: “Skandia scored consistently well across the board. User feedback was positive and recent web developments have been well received. Nucleus came second, they have happy advisers, a solid financial strength rating and reasonable pricing.”
The best performing platforms were presented with their awards at the re-launch of The Platforum’s platform analysis tool, PAT, last night.