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Skandia assets top £40bn as total platform assets near £200bn

Skandia has seen its assets under administration increase to £40.2bn in the first quarter of 2012, an increase of 6 per cent from £38bn in Q4 2011, according to The Platforum.

Cofunds’ assets increased by 10 per cent to £39.2bn, from £35.8bn at the end of last year, while FundsNetwork has seen an increase of 9 per cent from £34.4bn to £37.5bn.

Sippcentre has increased assets 3 per cent from £11.84bn to £12.2bn in Q1 while Standard Life saw an increase of 11.1 per cent from £11.3bn to £12.6bn.

Assets on the Transact platform rose 7 per cent from £10.65bn to £11.39bn while Ascentric, Axa Elevate amd Nucleus all saw significant asset increases of 13 per cent, 15 per cent and 14 per cent respectively.

Total adviser platform assets rose 7.9 per cent to £190.3bn from £176.4bn in Q4.

The Platforum managing director Holly Mackay (pictured) says: “We have seen some strong positive growth, and a number of platforms are really punching above their weight in terms of net sales. But anyone waiting for platform ‘floodgates’ to open pre-RDR is being overly ambitious. We still talk to many advisers whoa re uncertain about which platform to commit to.”


Cautious hand from L&C

Discretionary fund manager London & Capital has recently introduced a cautious income portfolio to complete its range of multi-asset income portfolios.

Lords warn that 70% of transaction taxes will be paid by City of London

The House of Lords European Union committee has slammed European Commission proposals for a financial transaction tax, saying it has failed to make a case for the levy and warning over 70 per cent of its revenue could come from the City of London. In September, the EC proposed imposing a tax of 0.1 per […]


Countrywide launches IFA consolidator led by Intrinsic founder

Property services group Countrywide and US-based investment management firm Oaktree Capital Management are launching an adviser consolidation vehicle. Bellpenny is expected to launch in July subject to FSA approval. Countrywide group chief executive officer Grenville Turner will be chairman, with Intrinsic Financial Services founder Kevin Ronaldson (pictured) as chief executive. Countrywide financial services director and […]


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