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‘Platforms will hold £256bn by 2010’

Assets held on platforms will grow to £256bn by 2010, according to Adnitor.

During a panel debate held at the Sage conference in Alicante last week, Adnitor told advisers it is convinced that the platform market has enormous potential.

Assets of £35bn were held on platforms in the UK last year, with a predicted growth curve that will take assets to £256bn by 2010 at the current rate of uptake. Adnitor said this is around 14 per cent of all invested assets in the UK.

Chief executive Karen Forrest said when platforms were first used by UK advisers, re-registration of assets took between four and six weeks but the process now takes an average of between four and eight days. With even more streamlined processes expected, this should encourage advisers to use platforms more.

She said £86bn is expected to be held on platforms by the end of 2007, growing to £127bn in 2008 and £185bn in 2009.

Forrest said: “It is mainly pension business that seems to be dominating the market. There is a huge opportunity for advisers to be embracing platforms. This is set to be 14 per cent of all available assets and that number is growing.”

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