Independent wrap platform Ascentric and its institutional arm IFDL have reported a 46 per cent growth in new business for the first nine months of 2013 compared to the same period last year.
After three consecutive quarters of record net inflows, Ascentric and IFDL reported new business of almost £1.3bn at 30 September 2013.
Their combined assets under management grew to £6.7bn, an increase of 42 per cent on 2012.
According to Ascentric, a combination of strong net inflows and a buoyant stock-market in October, has driven total assets above £7bn for the first time, up 36 per cent since the start of the year.
Hugo Thorman, managing director for Ascentric and IFDL, said: “2013 is fast becoming a key year in the history of this platform.
“The post-RDR environment has certainly helped us exceed expectations in terms of net inflows, but more importantly, it laid the foundation for a major technology programme that will enable us to enhance as well as evolve our service to clients.”
