Italy’s Mediolanum and Fideuram post highest inflows to advisers network, Assoreti

Italy’s networks of financial advisers posted €1.2bn net inflows to their network in October, a 63.6% increase compared to the previous month.

Since the beginning of the year, financial advisers in the country attracted €9.5bn inflows.

The positive performance was driven by assets under management, which attracted €1.5bn during the month, a 83.8% increse from September.

Taking into account the first 10 months of the year, both Banca Mediolanum and Fideuram Group posted €2bn inflows.

The performance was also very positive for FinecoBank (€1.56bn), Banca Generali (€1.46bn) and Allianz Bank F.A. (€1.18bn).

Flows were negative for Banca Monte dei Paschi di Siena, with outflows at €17m and for Credem, the worst performer with €110m ouotflows since January 2012.

At the end of October, more than 23200 advisers worked across Italy, according to Assoreti.

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