View more on these topics

Cofunds overtakes Skandia to top platform AUA table

Cofunds has overtaken Skandia to the top spot in terms of platform assets under administration, with a 4 per cent rise from £39.2bn to £40.7bn in the second quarter of 2012.

Research from The Platforum shows Skandia saw its AUA fall 3 per cent, from £40.2bn at the end of Q1 to £39.bn at the end of Q2, while FundsNetwork’s assets fell 8 per cent from £37.5bn to £34.4bn.

Total platform assets have fallen 0.6 per cent over the last quarter to £189.2bn at the end of Q2 compared to £190bn at the end of Q1. The Platforum attributes the drop to volatile markets.

The Platforum managing director Holly Mackay (pictured) says: “Cofunds has posted solid, positive net growth now for the last nine quarters, adding assets through institutional, adviser and execution-only channels.”

Thomas and Thomas Financial Services managing director Darren Lloyd Thomas says: “I think Cofunds has been quicker to get its adviser charging facility in place where Skandia has fallen behind. This probably means advisers are placing new assets on Cofunds rather than Skandia.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Becoming a headcase IFA 31st July 2012 at 11:30 am

    Skandia needs to get its act together. They have a good product but their way of dealing with IFAs seems a bit unstructured and impersonal, although I find their website easier to use than codfunds’.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com