The increasing popularity of its sustainable funds range also contributed to strong sales.
RLAM reported its Ascentric wrap platform saw record inflows in 2017, up 22% to £2.8bn from £2.3bn in 2016. It said a new charging structure designed to make it easier for advisers and their clients to understand total costs was responsible for this rise.
The firm increased its funds under management to £114bn, up from £100bn in 2016 and credited this to more stable market conditions in 2017.
Assets under administration also increased by 17% to £14.4bn, up from £12.3bn in 2016.
Speaking on the group results, Royal London chief executive Phil Loney (pictured) said: “In a year full of political and economic uncertainty which impacted market volatility and consumer spending, we achieved a 17% increase in EEV operating profit before tax, largely due to strong sales growth across our businesses.
“Our 2017 ProfitShare of £142m was supported by a record year for new business backed by strong investment performance, despite a backdrop of continued political upheaval.
“Royal London’s funds under management increased to £114bn with a record breaking year for gross sales for our asset management business.”
RLAM launched two global equity funds in 2017, recruited a team and completed one of the largest ever launches of a UK property fund in October 2017, with a portfolio of £2.7bn, the results noted.