Italy’s networks of financial advisers posted positive net inflows of €2bn in October, 25.3% up from September, industry association Assoreti has revealed.
The total amount of capital went up 54% thanks to the result. Net sales in the asset management product range were of €1.6bn and were again mainly driven by insurance products.
Net premia on insurance products amounted to €1.4bn, 32.1% up compared with the previous month. Unit linked products saw a significant increase of sales in October (+75.3% against previous month); while traditional insurance policies saw a drop of 51.3%.
Among the banks, Banca Mediolanum’s advisory network posted the highest results with €374m net inflows, followed by Allianz Bank Financial Advisors with €367m and Fineco Bank with €279m.