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Ascentric reaches £175m assets

Ascentric has seen its assets under advice swell by £75m in the past three months to £175m.

The Ascentric wrap was launched to the IFA market in January and chief executive Hugo Thorman says it has received strong support from advisers focusing on the high-net-worth channel.

It is looking to set up an IFA forum on its home page to enable its adviser users to exchange views, tips and experiences of using wrap. Ascentric is also in the process of establishing an IFA user group that will provide feedback to the firm’s management which will be used to help formulate ongoing development plans. The user group will be chaired by non-executive IFA director and trusteeMalcolm Coury.

Thorman says: “It was only in August when we announced the milestone of £100m. This growth reflects both the interest in the Ascentric proposition and IFAs’ desire and support for wraps.

“From a standing start, the Ascentric wrap has to be the fastest growing wrap or fund supermarket platform in the UK ever.”

Ascentric now offers 1,700 funds from over 110 fund managers across a range of tax wrappers including Peps, Isas, self-invested personal pensions, offshore bonds and small self-administered schemes.

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