Total platform assets under management (AUM) slumped by £52.2bn to £838.4bn in the second quarter, down 5.9% on the previous quarter.

Assets across all advised platforms fell by 2.42% in the first quarter of this year.

There are signs that investors are shifting money to safer havens in the face of economic and political turmoil, according to a fund research company.

Assets on UK platforms grew by a record 18.9% to £933bn in 2021.