20% increase in intermediaries working off-platform

More than 9,000 intermediaries placed all their business off-platform in the past three months of 2012, according to data from MyTouchstone.

The data, collated by the intermediary database and published by, showed a 19.6 per cent increase in the number of advisers and intermediaries conducting business off-platform compared with the third quarter of 2012.

In the fourth quarter of the year £14.1bn - 79 per cent of total new business - was off-platform, MyTouchstone said.

However, MyTouchstone also noted an increase in the volume of assets being added to platforms. A total of £3.8bn was added in on-platform new business in the fourth quarter of the year, up 26.7 per cent from the third quarter of the year.