Ascentric, a wrap platform owned by British investment company Royal London, today announced that its total platform assets (AUA) have exceeded £11bn (€13bn).
This follows gross inflows of over £1.2bn year to date.
Growth in assets on the platform have been the result of an increase in the number of new account applications being received from existing and new advisers, as well as a post-Brexit recovery of stockmarkets.
Recent initiatives undertaken by Ascentric to enhance its proposition for advisers include exclusive access to the Brown Shipley AIM ISA, helping clients manage their tax and IHT planning, and a renewed focus on its in-house dealing capability helping advisers to trade quickly and achieve the best price for clients.
In the coming months the business is also looking to develop a tool to help advisers assess the future income from a client’s portfolio.
“Markets are moving at a fast pace and those platforms set to thrive in this environment need to continually adapt to ensure they offer advisers the support and tools they need. The most imminent enhancement to our offering will be the development of a tool allowing advisers to more accurately forecast and visualise the income from a client’s portfolio,” said Jon Taylor, managing director of Ascentric.