Axa Elevate has topped The Platforum leaderboard for the second quarter of 2012, with Nucleus in second place and Transact in third.
Skandia came in fourth place, with Sippcentre making up the top five.
The leaderboard, published this week, examines platforms’ overall performance in terms of financial strength, percentage increase in assets under administration and price on a quarterly basis. It also includes reviews from around 1,800 advisers.
Nucleus topped the “user leaderboard”, which is voted for by advisers, for the fifth consecutive quarter. Transact and Novia came in second and third respectively.
Data from The Platforum shows Elevate’s assets under administration grew 7 per cent from £4bn to £4.3bn over the quarter, while Nucleus’ assets increased 4 per cent from £3.8 bn to 3.9bn.
Transact’s assets increased 0.1 per cent from £11.39bn to £11.4bn, while Skandia saw its AUA fall 3 per cent, from £40.2bn at the end of Q1 to £39bn at the end of Q2.
Sippcentre increased its assets by 3 per cent from £12.2bn to £12.6bn.
The Platforum’s figures show total platform assets have fallen 0.6 per cent 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 says: “We are careful to position The Platforum leaderboard as a collection of many factors, rather than a suggestion that any one platform is the best. The focus of the work we do with individual adviser firms is to really focus on what the adviser needs the platform to do, and then pick a platform which is fit for purpose.”
Murphy Financial associate partner Adrian Murphy says: “I think there are a lot of firms out there who are in the early stages of platform adoption and like the security of life company backing. That is probably a reason why Axa Elevate is seeing such large growth and popularity at the moment.”