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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.”


IT discounts paying off for Vanbrugh

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Capita acquires Medicals Direct for £13.2m

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Over 5,600 ‘phantom’ policy PPI claims

Over 5,600 complaints about missold payment protection insurance were referred to the Financial Ombudsman Service last year where no policy had ever been sold. The ombudsman service published its annual review this week, which sets out complaint trends for the 2011/12 financial year. It show that out of the 222,333 complaints resolved during the year, […]

Strong dollar can be a powerful driver of UK dividend growth in 2015

By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.


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