A third (31%) of UK advice businesses expect their 2022 turnover to be down on previous years due to ongoing poor economic conditions but overall firms remain “resilient”, according to research from The Lang Cat.
Platform flows have plunged amid a third-quarter meltdown as the cost of living crisis, rampant inflation, the uncertain economic outlook and political instability together negatively impacted investor confidence, research from Fundscape has shown.
Just as a week is a long time in politics ask outgoing prime minister Boris Johnson, whose premiership unravelled within 24 hours of a mass cabinet resignation so a year is a long time in platform land. Until just over 12 months ago, the UK platform industry was enjoying a record-breaking year as assets rose on
Platform assets continue to fall as billions are wiped off market value since the end of a bumper 2021. Total platform assets fell by 6.62% in the first quarter of this year and advised assets only just performed slightly better (-6.08%).