PlatformsOct 15 2014

Alliance Trust Savings boosts platform offerings

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Alliance Trust Savings has given advisers the choice of a further 80 funds through its low-cost platform, its managing director has said.

Patrick Mill said that the platform provider needed to be listening to adviser feedback and giving advisers access to the funds they have been requesting.

The platform, which already offers more than 2,000 funds from 70 fund providers, has added a further 80 funds from GAM, Royal London, Lindsell Train, River and Mercantile, Apollo, Brown Shipley, IFSL and Sinfonia.

Over the past 12 months, Mr Mill said the platform has seen significant inflows into investment funds. As at 31 August there was £1.28bn invested in open-ended investment companies/unit trusts, representing 21 per cent of the £6.2bn of assets held now on the flat fee platform.

Mr Mill said: “Our wide range of assets makes Alliance Trust Savings one of the most diverse platforms in terms of investment options in the marketplace. Oeics and unit trusts now account for 21 per cent of assets on the platform, up from 7 per cent in 2013, which is beginning to change both advisers’ and clients’ perception that we are purely an investment trust platform.”

Adviser view

Alex Reynolds, an adviser with Advies Private Clients in London, said: “I imagine this move is based on adviser demand. Alliance Trust charge a flat fee, which is good for clients who want to roll in their money and don’t want to move it too much.”