In its full year results, released yesterday, the
Cash flowing onto the platform fell 13 per cent to £4.8bn, down from £5.5bn last year. Assets under management ticked up eight per cent to £134bn despite the slowdown, however, as market conditions improved.
Analysts had been pricing in profits of £379.4m for the full year.
The full-year numbers mark the first results following the takeover of new chief
In a statement, Olley said it was a "robust financial performance for our full year in what continues to be a challenging broader economic environment," with customers pouring into the firm's saving products rather than investing.
"Markets have been volatile and with interest rates rising, savers have looked to make their cash work harder for them without always wanting to invest." The firm's Active Savings cash platform attracted record new business of £3.2bn in the year.
Olley's predecessor
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