Ascentric surpasses £12 billion assets under administration
16 January 2017
Ascentric, one of the UK’s leading wrap platforms, today announced that total assets under administration now exceed £12 billion.
The market leading platform has continued to benefit from an increase in the number of new account applications being received from existing and new advisers, as well as the post-Brexit recovery of stock markets. The milestone comes just four months after Ascentric announced it had reached £11bn in AUA.
Ascentric has recently introduced platform enhancements to help financial advisers manage their clients’ portfolios. Recently, Ascentric launched the Income Forecaster – the first adviser based interactive tool designed to help advisers assess the projected natural income of any portfolio – as well as launching its model portfolio cloning tool which helps reduce risk and increasing speed for advisers when replicating portfolios.
Other initiatives have included the introduction of inheritance tax planning services via Brown Shipley, Blankstone Sington and Puma Investments.
Commenting on the AUA milestone, Jon Taylor, Managing Director of Ascentric said:
“The continued growth we’ve seen reflects our efforts to provide advisers with the flexibility and specialist tools they need to effectively deal with their client’s needs. The markets remain challenging for both advisers and their clients to navigate, but we are committed to providing innovative, cost effective solutions.”
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About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £101 billion. Group businesses provide around 9.1 million policies and employ 3,179 people. (Figures quoted are as at 30 September 2015).
The Group is currently moving all of its UK and Ireland life, pension and investment businesses under a new version of the Royal London brand. The Group's independent wrap platform will remain branded Ascentric.
Ascentric, IFDL and Fundsdirect are trading names of Investment Funds Direct Limited (IFDL).
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the UK’s first online fund supermarket in December 1999. Since that time, the company has built on its reputation as a leading UK fund supermarket to provide Financial Advisers with a Wrap platform under the brand name of Ascentric. It provides a full white label solution for institutional clients requiring bespoke technology and administrative services.
Ascentric is a Wrap platform, available exclusively to financial advisers and offers a fully integrated online investment management and dealing platform. It also enables advisers to transfer their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place.