Ascentric, the UK-based independent wrap platform, has hit £4 billion ($6.3 billion) in assets under administration after having added close to 50 advisor firms since the start of 2012.

The number of firms on Ascentric’s platform is now approaching 800.

Last year, 226 companies joined the platform and the firm’s assets under advisement stood at £3.7 billion at the end of December.

The company’s managing director, Hugo Thorman, said that he is “very positive about the future, particularly with Retail Distribution Review implementation just around the corner”.

Christopher James, director of institutional services at Cofunds, one of Ascentric’s competitors, recently talked to WealthBriefing about how platforms can help wealth managers and private banks with the RDR (click here to view).