According to The Platforum, UK adviser platform assets stood at £164 billion at the close of September, a drop of 4.3 percent.

Despite including assets from the new Sippcentre platform in the calculations for the first, assets under administration still fell. Most platform providers experienced flat sales, the exception being Cofunds who posted assets of £4.6 billion.

Taking into consideration an uncertain financial situation which saw the FTSE tumble 14 percent over the same period, Q3 platform performance doesn’t appear to be a cause for serious concern. However, it does stand in sharp contrast to the strong growth which took place over the previous two years.

Commenting on the findings Platforum managing director Holly Mackay said: “Lots of advisers we speak to are still using adviser software as the cornerstone of their businesses – not platforms. Regulatory uncertainty, some disquiet about the value of platforms and the general amount of change in adviser businesses is hampering growth. However, we remain firm believers of the value that platforms can add – especially in an Adviser Charging environment – and think that momentum will pick up in the first half of 2013 and beyond. Platforms will see out this race – they’re just having a little breather, taking on some water and re-focusing on the basics including core administration, service and price.”

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