The AIC commissioned a report using Matrix Solutions’ Financial Clarity to evaluate adviser and wealth manager investment company platform purchases in the first year after RDR.
Total purchases of investment companies in 2013 reached £328.4m, a 67% increase compared to 2012 when purchases were at £196.6m. Purchases of investment companies by advisers in Q4 2013 reached a record high of £86m, up 70% on the fourth quarter of 2012 of £50.6m.
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Six platforms provided the data on investment company purchases, namely Transact, Nucleus, Ascentric, Raymond James Investment Services, Elevate and Novia.
Ian Sayers, director general of the Association of Investment Companies said: "One year on it’s clear that investment companies have significantly benefitted from the RDR. It’s excellent news that investment company adviser platform purchases have increased dramatically, albeit from a low level. Demand for adviser training continues to be strong, and we have seven adviser seminars across the UK starting in June."
Other findings
- Total purchases of all products through adviser platforms for 2013 were £70.7bn up 46% on £48.6bn in 2012. Total purchases through platforms in Q4 were a record £20.3bn.
- Purchases of OEICs and unit trusts were up 44% in 2013 compared to 2012, ETFs increased 7% and passives increased 32%.
- The most popular investment company sectors for adviser purchases on platforms over the year were; UK Growth & Income (18%), Global Growth (17%), Property Direct – UK (6%), Asia Pacific – Excluding Japan (5%) and Infrastructure (5%).
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By GlobalData
