With the loss of two big name brands in the adviser platform sector, the Platforum assets under administration tables are going to have something of a different look and feel about them.
This weekend the England rugby team will line up against Australia in the Old Mutual Wealth Series. But the headline sponsor’s identity may not be long for this world, as this week Old Mutual have announced plans to rebrand as Quilter.
The new Quilter business will encompass the platform, financial planning and investment management (DFM and multi-asset) under the umbrella branding. As part of this, the Old Mutual Wealth platform will be rebranded as Quilter Wealth Solutions in 2018.
Aegon has also outlined plans to drop the Cofunds brand for good after the completion of the integration process in May of next year.
Yesterday we published our latest UK Adviser Platform Guide showing:
Adviser platform assets grew by 4.5% over the course of Q3 2017 to stand at £488.76bn.Source: UK Adviser Platform Guide Issue 32, November 2017
Platform growth has yet again been largely fuelled by pensions with 7 out of the 11 platforms reporting sales figures seeing an increase in gross pension sales from Q2 to Q3. ISA sales are down after a record setting Q2 following the increase in the annual allowance from £15,240 to £20,000.
So adviser platform assets continue to rise at a good clip, with the FTSE All-Share returning 1.1% over the same period.
And rugby fans can look forward to seeing the All Blacks, Wallabies and Springboks in the ‘Quilter Series’ in 2018.
Hear more about these topics by watching the video below:
