Home Financial Planning Direct to client platform gross sales proceed to fall

Direct to client platform gross sales proceed to fall

Direct to client platform gross sales proceed to fall


Gross and internet flows for direct to client funding platforms continued their downward pattern in 2023, hitting their lowest level within the fourth quarter of 2023, in response to a brand new report.

Annual gross flows for the D2C platform marketplace for 2023 had been £40bn with annual internet flows for the yr at £10.7bn, a fall of 12.2% on 2022.

Web flows had been solely a 3rd of the £27bn of internet flows recorded in 2021.

Hargreaves Lansdown noticed the very best product sales for 2023 with £12.6bn whereas Interactive Investor topped internet gross sales with £3.3bn.

Gross sales in D2C Platform Market: Gross Gross sales This fall 2023


Web gross sales This fall 2023

Interactive Investor




AJ Bell


Hargreaves Lansdown


Halifax Share Dealing/Lloyds


Supply: Fundscape

Regardless of financial headwinds, direct to client funding platforms reported an increase in property to £320bn.

Hargreaves Lansdown topped the D2C platforms when it comes to property with £119.7bn of property in its direct platform on the finish of the fourth quarter. Interactive Investor was second largest with property of £61.7bn.

Fundscape says that one platform bucking the pattern was ETF-focused InvestEngine. It has trebled property in a yr and was fifth for internet gross sales within the fourth quarter of 2023. InvestEngine’s latest launch of a Sipp will probably result in a surge in gross sales, Fundscape predicted.

Bella Caridade-Ferreira, CEO at Fundscape, mentioned: “Client sentiment is definitely broken and may take time to get well, however it’s the principal driver of flows within the direct market. Everyone seems to be searching for any indicators of improved financial outlook and easing of inflation that may assist that restoration, and hopefully a return to the upper ranges of flows seen in earlier years.

“The ISA season normally units the tone for the remainder of the yr so an excellent ISA season will increase the trade no finish, however a nasty one may result in additional closures and/or fireplace gross sales. 2024 can be predicated on rates of interest coming down and money not being such stiff competitors.”

Fundscape’s ‘The Direct Issues’ report covers the direct market on a quarterly foundation.



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