19th July 2013

Ascentric and IFDL hit 50,000 customer milestone

Independent wrap Ascentric and institutional arm IFDL today announces that it has hit 50,000 customers on the platform since its launch in 2007. RDR has been a key driver, with the platform adding almost 9,000 clients since the start of the year.

Hugo Thorman, Managing Director at Ascentric and IFDL commented, “This is a significant milestone for the business. Pre-RDR it took us 2.5 years to generate our first 10,000 clients, and we then grew to around 10,000 per year up until the end of 2012. Post-RDR we have been processing applications at almost twice the rate of previous years, hitting 10,000 applications already this year.

“The volume of applications for the Ascentric business is up significantly over the same period last year, and we have also experienced very strong growth from our institutional clients including Succession Advisory Services and Openwork.

“I would like to thank all our institutional clients and adviser firms for placing increasing amounts of business with us, and for their patience in allowing us to deal with a near doubling of applications since the start of the year. Over the course of the second half of this year and the whole of 2014, we plan to roll out a series of technology developments that I hope will allow us to achieve yet further milestones and position ourselves firmly at the vanguard of the platform market.”

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