UK wrap platform Ascentric has seen its assets under administration increase by 36 per cent since the start of 2012, to hit £5 billion (around $8 billion) on 30 November.

“Set against a difficult economic and regulatory backdrop, the business continues to thrive driven by a strong performance from our institutional business,” Hugo Thorman, managing director, said in a statement.

Last month WealthBriefing reported that Ascentric had added a suite of online legal products, supplied by Lex Futura, to its offering. These tools, such as wills and lasting powers of attorney, aim to help intermediaries “complete the financial planning circle” by protecting clients against intestacy or incapacity.