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Transact tops The Platforum Q2 leaderboard

Transact has toppled Elevate off the top spot in The Platforum Market Monitor leaderboard for Q2, with Elevate coming second and Sippcentre third.

Each quarter The Platforum reviews each platform’s performance, with a focus on costs, user feedback, growth, AUA growth, financial strength and functionality.

The Platforum says AUA growth and adviser feedback were key to Transact’s success this quarter.

Parmenion topped the user leaderboard, with Transact and Nucleus in second and third place respectively.

Total platform assets increased 9.1 per cent from £223.85bn in Q4 to £244.19bn in Q1.

The Platforum head of adviser platforms Freddie Findlater says: “After a few quarters of relatively flat AUA growth in 2011, Transact picked this up in 2012 and has accelerated in the first quarter of 2013, adding over £1bn to the platform. Transact has always been popular amongst its users and continues to excel in the area of customer service and face-to-face support in particular.

“Second in the Market Monitor, Elevate has had another good quarter in terms of adding assets to the platform and topped the Market Monitor last quarter but slipped to second place after a slight reduction in adviser feedback scores. Sippcentre benefits from impressive asset growth, improved user reviews and cost.”

Technology and technical founder and director Kim North says: ”Transact has simplified its previously complex charging structure and continues to focus on delivering exactly what IFAs want. Advisers have always been very loyal to Transact because it’s not all lights and whistles, it sticks to its knitting and delivers a good service.”

Overall Leaderboard

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User Leaderboard

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