Alliance Trust Savings assets breach £5 billion milestone
As its parent company celebrates its 125th anniversary, savings platform Alliance Trust Savings (ATS) has announced the value of the assets on its i.nvest platform have reached a record £5 billion.
The platform claims this follows a sustained period of inflows since the start of the year and continuing adviser interest. It represents a 32 per cent year on year increase in assets under management.
Starting the year at £4.05 billion, Alliance Trust Savings has added nearly £1 billion, with growth driven by consolidation from existing customers and strong new client acquisition through the IFA channel. In addition, the company generated an operating profit before tax from continuing operations of £0.2m in the first half of 2013, maintaining the progress made in 2012.
Patrick Mill, the managing director of ATS, said: “Hitting £5 billion of assets under administration is a particularly satisfying milestone and although this shows the continued success for Alliance Trust Savings, we regard it as merely a stepping stone to greater things as our business model – and the industry – develops. Our asset growth has been strongest in percentage terms from the IFA channel which is testament to the increasing support we are receiving from advisers”.
Alliance Trust Savings was formed in 1986, partly to meet the challenges posed by radical changes within the UK savings industry at the time, and partly to offer private investors a cost-effective route into Alliance Trust PLC. Today it is one of the UK’s leading financial services providers for private investors.