Platform flows hit record highs in Q4 ahead of pensions freedoms

Platform inflows reached record highs in the fourth quarter of 2014 as upcoming pension freedoms and demand for income boosted inflows, according to Fundscape.

Gross flows stood at a record £22bn in Q4 while net flows hit some £12bn, the Fundscape Platform Report found. Over the course of the year, platforms saw £42bn in net sales, a 16% increase on the previous year The strong flows pushed up total assets by £50bn to £343.7bn at the end of the year, a 17% growth rate, and the report suggested much of this money went into pension products. Of the largest platforms in the UK market, Fidelity stood out with net inflows up 200% to £6.6bn. Much of this activity was pension-driven, the report said. Standard Life led the retail advisory mark...