Transact has replaced Axa Elevate at the top of The Platforum leaderboard for the third quarter of 2012, with AJ Bell Sippcentre in second place and Elevate in third.
The leaderboard looks at platforms’ performance across financial strength, percentage increase in assets under administration, functionality and price on a quarterly basis. It includes the reviews of 2,400 advisers.
True Potential topped the “user leaderboard”, which is voted for by advisers after ousting Nucleus, which has been top for five consecutive quarters. Nucleus and Transact came in second and third respectively, while Sippcentre and Seven Investment Management made up the top five.
Figures from The Platforum show Transact saw assets under administration increase 5 per cent in Q3 to £12bn, up from £11.4bn in Q2.
Sippcentre assets rose 9 per cent from £12.6bn to £13.7bn, while Elevate saw its AUA rise 11 per cent from £4.3bn to £4.8bn.
The Platforum figures show total platform assets have risen 7 per cent to £205bn, up from £191bn at the end of Q2.
Forty Two Wealth Management partner Alan Dick says: “Transact does exactly what it says on the tin. It does not make outlandish promises or try to offer lots of bells and whistles and that is why it is consistently rated highly.”
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