James Hay sees 133% surge in platform assets

James Hay Partnership has reported a 60 per cent year-on-year increase of net inflows in the third quarter, as its broadened platform offering surged past £16bn assets under administration.

In the 12 months to the end of September, net flows totalled £1.02bn, a 133 per cent increase on the previous 12 months.

In a statement the firm said its development of a full platform proposition has been built on its online ‘Modular iPlan’, a self-invested pension which offers a range of investments from cash and funds through to third party direct fund managers, unquoted shares and commercial property.

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Alastair Conway, chief executive, explained that clients and their advisers have also taken advantage of the firm’s technology ‘build out’, with over 40 per cent of new applications now being made fully online with the eSignatures system.

“Q4 is already emulating the strong growth of Q3 and I expect that to continue right through to year end and ramp up still further in Q1 and beyond when the new pension rules come into effect and clients take full advantage of increased Nisa limits as part of a comprehensive retirement planning package.”