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Who topped The Platforum Q4 leaderboard?

Quarterly study looks at platforms’ costs, user feedback, growth, AUA growth, financial strength and functionality.

Transact has topped The Platforum market monitor for the fourth quarter of the year, pushing Aviva into second place.

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

The market monitor top five was made up of Axa Elevate, AJ Bell Sippcentre and Standard Life.

Transact also topped The Platforum’s user leaderboard for Q4 with Parmenion and Nucleus joint third.

True Potential and Novia finished fourth and fifth respectively.

The Platforum managing director Holly Mackay says: “There is never that much new to say about Transact, which is probably both a good and a bad thing. Happy advisers remain happy. Asset growth has picked up a little although we see recruitment of new advisers as a challenge.

”They are at the top of the Platforum Market monitor – not for the first time. They have led on service for more than a decade.”

Transact is to buy back 4 per cent of its shares for £4.5m following an offer last month.

Murphy Wealth associate partner Adrian Murphy says: “The definition of what makes a good platform is entirely dependant on what you use it for.”

The Platforum Q4 market monitor:

platforum aua

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