View more on these topics

Elevate and Nucleus lead platform table

Axa Elevate and Nucleus have topped The Platforum’s leader board for the third quarter of 2011, followed by Skandia.

The Platforum examines platforms’ performances on a quarterly basis, based on around 1,500 adviser reviews. Platforms are rated according to user feedback, financial strength, momentum and price.

The study shows that total platform assets under administration fell by 4.35 per cent from £164bn in the second quarter to £156.9bn in the third quarter.

The study included Sippcentre for the first time and, with its assets included, the total UK platform assets under administration stands at £168bn.

Skandia and Fidelity FundsNetwork both saw sizeable drops in assets under administration, with FundsNetwork falling by 11 per cent from £37bn in the second quarter to £33bn in the third quarter and Skandia falling by 7.5 per cent from £40bn to £37bn.

Standard Life, which was top of the leaderboard in the second quarter, saw its assets fall by 1.7 per cent from £10.77bn to £10.58bn in the third quarter.

Nucleus and Elevate both saw increases in their assets under administration in the third quarter. AUA for Nucleus rose by 3.6 per cent from £2.9bn to £3bn while Elevate had a rise of 6 per cent from £2.9bn to £3.1bn.

Aviva also saw a 6 per cent increase in its platform assets, which rose from £500m in the second quarter to £600m in the third quarter.

The Platforum managing director Holly Mackay says: “Each adviser firm has different criteria which it will need a platform to fulfil.

“Advisers should be aware that it is important that any platform due-diligence process starts with a clear view of what that platform is there to achieve.”

Investment Quorum chief executive Lee Robertson says: “Although the assets of a couple of the big platforms have fallen it is probably relating to fund values falling in a difficult market rather than a migration of assets. It is interesting to see that Elevate is beginning to get traction with advisers.”


Criteria to tighten if MMR stays unclear

Lenders could tighten their criteria even further if the regulator does not provide further clarity on the mortgage market review’s new rules. In a mortgage panel debate at the Sesame Symposium in London last week, Nationwide group distribution director Matthew Wyles said lenders will restrict criteria for fear of falling foul of the new rules […]


Money Advice Service spent over £250,000 rebranding website

The Money Advice Service spent more than £250,000 rebranding the Money Made Clear and Consumer Financial Education Body websites before its launch in April. Labour peer Baroness McDonagh submitted a question to Parliament about how much the Money Advice Service spent on its website, including staff costs. In a written answer published this week, Treasury […]


Henderson SRI team set to leave the business

Henderson’s sustainable & responsible investment team of six members are set to leave, with their funds passed to other managers at the firm. The group currently manages a range of four funds, the Henderson global care growth, Henderson global care managed, Henderson global care UK income fund and Henderson industries of the future fund. The […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

Leave a comment


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