Recent strong stock market performance has been a boon for platforms, according to new data published today by platform analysts Fundscape.

In its Platforms Report, it said Fidelity was the dark horse of 2024 with the best asset growth across its channels.

However, when looking at adviser platforms only, Quilter, Aviva and Transact topped the charts. In all cases, the top five accounted for around two-thirds of growth.

Fundscape said it was no surprise to see that multi-channel platforms like Aegon, Fidelity and AJ Bell dominate the tables thanks to robust D2C, workplace and institutional activity.

Source: Fundscape

It said adviser platforms produced their strongest gross flows of the year but with advised outflows finally slowing, it was also the best quarter of the year for net flows.

For the third quarter in a row, the same three firms — Quilter, Aviva and Transact — were at the top of all advised tables, gross and net, quarterly and yearly. Lots of sales records were broken by the three platforms.

Quilter recorded its best quarterly gross and net sales, while Aviva and Transact recorded their best quarterly gross flows and their net sales figures were the best since 2022. Also worthy of mention, said Fundscape, was 7IM, which wrote more than £1bn in gross flows and registered its best net flows since Q421. 

Source: Fundscape

Earlier this month Fundscape revealed that platform assets climbed to a new high in 2024 of £1.1trn in 2024, with adviser platforms accounting for £697bn.

Bella Caridade-Ferreira, CEO of Fundscape said: "The industry turned a corner in 2024. Gross flows were strong, but outflows dragged on the net figures. The overall economic and political outlook may be gloomy but there are reasons to be optimistic and the ISA season should be comparatively buoyant.

“Looking further ahead there are reasons to be cheerful. Demand for advice will increase as clients factor in inheritance and capital gains tax into their long-term plans. In addition, the advice guidance boundary review and targeted support should give more consumers access to long-term investments and create a pipeline of additional business for advice firms and platforms.”

• The Platform Report is a confidential report published by Fundscape. A total of 19 platforms were included in the analysis. Platform coverage is estimated at 98% of the platform universe.