Advised platform assets under administration grew by 4.12% in the fourth quarter of 2025, despite outflows hitting record highs amid Budget speculation.
The latest findings from the lang cat’s Platform Market Scorecard showed advised platform AUA reached £738.63 billion in the final quarter of the year, up 4.12% on the third quarter and 14.12% year-on-year.
The lang cat said new business onto platforms once again hit new, all-time highs, with the final quarter the best of a strong year at £26.01 billion, beating the previous record in the third quarter.
In total, gross sales, including transfers of existing business onto platforms as well as new money being invested, reached £92.83 billion last year.
Despite this, pre-Budget speculation led to a spike in outflows, which reached £21.87 billion during the fourth quarter, marking the highest quarterly outflows figure on record. At the same time, 2025 also recorded the highest annual total outflows of £72.37 billion.
The increase in outflows meant net sales during the quarter were £4.15 billion, down 19.55% compared to the previous quarter and 12.31% on the same period the previous year. However, annual net sales for the year were £20.46 billion, up 43.62% on 2024’s total of £14.24 billion.
Rich Mayor, senior analyst at the lang cat, said: “The last quarter of 2025 sums up the theme of the year, albeit a bit more dramatically. Gross flows onto platform have been repeatedly record-breaking and we’re in the position now that the best five quarters for the past ten years have been the last five.
“While the demand for advice is arguably as high as it’s ever been, gross sales include transfers between platforms and we’re seeing larger books of business moving more seamlessly when a new platform is chosen, or when a firm is acquired.
“The other dominant themes were of rumour and volatility. The beginning of the year saw volatile markets during the trade tariff negotiations but advised clients steadied the course and outflows fell from where they ended in 2024.”
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