ascentric aua exceeds 5bn

Independent wrap platform Ascentric and its institutional arm IFDL have seen assets under administration (AUA) pass the £5bn mark over 2012.

ascentric aua exceeds 5bn


Hugo Thorman, managing director at Ascentric and IFDL, said the 36% increase in AUA was driven by strong performance in its institutional business, which includes Succession Advisory Services, Towergate Financial, Openwork, Intrinsic and Platform One.

“I would like to thank all our institutional clients and adviser firms for not only using our proposition but also helping us to shape an effective, evolving and attractive platform, and of course my colleagues who continue to make things possible,” he added.

Thorman also pointed out that the RDR comes into force during 2013, which will change how platforms support advisers. “Only those organisations that are willing and able to adapt will survive,” he said.


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