27th August 2013

Record first half performance boosts Ascentric and IFDL

• Net new assets hit £813m, up 39% on H1 2012
• Total assets up 43% at £6,160m
• Total clients up 35% at 50,073

Independent wrap platform Ascentric and institutional arm IFDL had two consecutive quarters of record net inflows to achieve its strongest ever first half performance. Net new business was up 39 per cent over the same period last year to £813 million.

Both IFDL, which include major distributors such as Succession Advisory Services and Openwork, and Ascentric enjoyed strong growth over this period. Their collective performance saw total assets hit £6,160 million, an increase of 43 per cent against H1 2012 and a rise of 20 per cent since the start of the year.

The platform continues to attract new adviser firms, with more than 350 signing up to the IFDL and Ascentric platforms during the first half of the year. Around 9,000 new customers were added to the platform in the first 6 months leading to a 35% increase in total customers at 50,073 against H1 2012.

Hugo Thorman, Managing Director at Ascentric and IFDL commented, “We have enjoyed a fantastic first half to the year driven by two consecutive quarters of record net new business. The rate of adoption in terms of net new inflows and sign ups has exceeded our expectations and shows the degree to which advisers are willing to embrace transparent wrap platforms in a post-RDR world.

“It is particularly pleasing to see both the IFDL and Ascentric businesses performing so well and I would like to thank our adviser firms and institutional clients for their ongoing support.

“Demand for platform functionality continues to grow and we will look to meet those needs by rolling out a series of technology developments over the next year that I hope will enable us to deepen the relationships we have with our clients and help us achieve yet further milestones.”

Please click here to view a video of Hugo Thorman discussing this announcement.

Wraps & Platforms