Fundscape: 'Bloodletting experience' to come for platforms in 2020

According to the consultancy firm, geopolitical uncertainty, Brexit and a defined benefit (DB) transfer pipeline that tricked to a halt made 2019 a tough year for the sector. Despite this, annual asset growth was at 19% or £112bn, four times higher than the £30bn achieved in 2018. Fundscape said this upturn of assets was largely the result of increased asset values. Some platforms delivered above-average growth for the year, with True Potential showing a growth rate of 35%. Aviva followed in second with 28.4% and the Aegon Retirement Choices platform came in a close third at 28.2%. ...