Research conducted by The Platforum has put the collective assets of the European open architecture platform market at €740bn as at September 2011.
The main countries involved in the European platform market, the UK, Italy, Germany and France have around €538bn, 72 per cent of the overall assets.
The top five platforms in terms of assets are Allfunds Bank, Cofunds, FundsNetwork, Fund Channel and Skandia, which all hold more than £35bn of third party funds.
The Platforum says there is also a growing number of platforms who operate across countries, such as Allfunds Bank, MFEX and RBC Dexia.
The Platforum managing director Holly Mackay says: “We think that the consistent consumer themes of wanting access, clarity, investment management from experts, best of breed solutions and advice from a properly qualified, trusted GP-type adviser will determine the global development of platforms.”