Ascentric's platforms assets exceed £12bn

Ascentric's platforms assets exceed £12bn

Total assets under administration on the Royal London-owned wrap platform Ascentric platform now exceed £12bn.

According to Ascentric, the platform has continued to benefit from an increase in the number of 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 assets under administration.

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In November this year, Ascentric reported a fall in sales of 16 per cent.

At that time, assets under administration on the platform increased by 17 per cent to £11.8bn against a figure of £10.1bn at 31 December 2015.

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.”