Record gross sales and outflows for advised platforms in Q4 2025

February 12, 2026

Advised platform AUA grew by 4.12% to £738.63bn, despite outflows hitting record highs amid pre-Budget rumours in Q4 2025.

New business onto platforms once again hit new, all-time highs, with the final quarter the best of a strong year, and £26.01bn recorded, beating the short-lived previous record in Q3 2025.

That makes for a total of £92.83bn in gross sales for 2025, comfortably the best year for new business. Gross sales include transfers of existing business onto platforms as well as new money being invested.

Despite the best new business numbers, the pre-Budget rumour mill that started to increase outflows in Q3 2025 hit home in the last quarter. £21.87bn in outflows for Q4 2025 is the highest quarterly outflows figure on record, and the highest annual total, £72.37bn, for 2025.

The spike in outflows means net sales this quarter were £4.15bn, -19.55% compared to the previous quarter and -12.31% on Q4 2024. Annual net sales for the year were £20.46bn though, up 43.62% on 2024’s total of £14.24bn.

Rich Mayor, senior analyst at the lang cat, said:

“The last quarter of 2025 sums up the theme of the year, albeit a bit more dramatically. Gross flows onto platform have been repeatedly record-breaking and we’re in the position now that the best five quarters for the past ten years have been the last five.

“While the demand for advice is arguably as high as it’s ever been, gross sales include transfers between platforms and we’re seeing larger books of business moving more seamlessly when a new platform is chosen, or when a firm is acquired.

“The other dominant themes were of rumour and volatility. The beginning of the year saw volatile markets during the trade tariff negotiations but advised clients steadied the course and outflows fell from where they ended in 2024.

“The second half of the year saw the pre-Budget rumour mill start towards the end of the summer holidays and spiked in the final quarter. Platforms have been telling us that outflows have since returned to more normal levels – just as they did at the end of 2024 – but platforms and advisers will be hoping that this doesn’t become an annual tradition.”