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Transact tops The Platforum Q1 leaderboard

Transact has topped The Platforum leaderboard for the first quarter of 2012, with Skandia in second place and Standard Life in third.

Nucleus came in at fourth place and Axa Elevate rounded off the top five (see table below).

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 fourth consecutive quarter. Transact and Novia came in second and third respectively.

Data from The Platforum shows Elevate’s assets under administration grew 15 per cent from £3.5bn to £4.03bn over the quarter, while Nucleus grew its assets 14 per cent to £3.8bn, up from £3.33bn.

Standard Life’s assets grew 11 per cent from £11.3bn to £12.6bn, Transact’s assets rose 7 per cent from £10.65bn to £11.39bn and Skandia’s assets increased to £40.2bn, up 6 per cent from £38bn.

The study shows total platform assets under administration grew by 8 per cent over the quarter from £176.4bn to £190.3bn.

The Platforum managing director Holly Mackay (pictured) says: “This quarter, Transact was one of the few platforms to excel in multiple categories. Whilst producing leaderboards such as these can be helpful to advisers conducting due diligence, they are certainly only a starting point and not the conclusion.”

Forty Two Wealth Management partner Alan Dick says: “Transact is consistently popular with advisers because it provides safe custody of client assets without feeling the need to provide over the top bells and whistles.”

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