Aviva tops The Platforum Q3 leaderboard

Platforum’s Holly Mackay

Aviva Wrap has topped The Platforum market monitor for the third quarter of 2013, replacing Q2 table-toppers Transact.

Each quarter The Platforum reviews each platform’s performance, with a focus on costs, user feedback, growth, AUA growth, financial strength and functionality.

The Platforum says volatile markets has impacted on platform asset growth during the quarter, which saw overall platform assets grow by just 2.6 per cent to £231m from £225 the previous quarter.

The top five platforms in the market monitor were made up by Transact, Elevate, Sippcentre and Seven IM.

Discretionary fund management platform Parmenion came top of the user leader board, featuring ratings of 4,200 advisers.

The Platforum managing director Holly Mackay says: “This quarter, their adviser feedback was really strong and to me, that speaks volumes. In terms of functionality they’re still not the fullest offer out there but for the right sort of client they’re doing well. 

“Transact, ever popular with their users maintain a strong position in our user leaderboard behind niche provider Parmenion. Elevate have remained in the top three of the Market Monitor now for the past five reports.”

Murphy Wealth partner Adrian Murphy says: “I think the results here have maybe been skewed by the financial strength of Aviva as a whole which does not necessarily translate into financial strength of the platform itself.”

Market Monitor: Score based on cost, user feedback, AUA growth, financial strength and functionality