Transact remained the most popular adviser platform for purchases of investment companies during the whole of 2015, the AIC has reported.

The company had a market share of 48%, which was down by 1% from 2014, according to research from the Association of Investment Companies.

Alliance Trust Savings took second place with 18% of the market and Ascentric was third with 16% of the market.

2015 was a record breaking year for adviser and wealth manager purchases of investment companies via platforms.

Adviser purchases totalled £686.9m in 2015, an increase of 43% on the previous year (£479.5m), according to the AIC study using Matrix Financial Clarity.

This was 72% higher than in 2013 (£399.8m). Adviser purchases of investment companies in 2015 were nearly triple the 2012 pre-RDR level (£236.6m).

While purchases in 2015 were bolstered by the launch of Woodford Patient Capital in April, it would nevertheless have been a strong year without it, the AIC said.

Even omitting Q2 altogether, purchases for the other three quarters of 2015 were still up 17% on the same three quarters of 2014, from £353.9m to £415.1m, researchers stated.

Ian Sayers, Chief Executive of the AIC, said: “It’s highly encouraging that adviser purchases of investment companies in 2015 are at record levels and have nearly tripled since before RDR. It’s also really significant that the number of adviser firms using investment companies hit an all-time high.”

Adviser purchases of investment companies in Q4 2015 totalled £135.1m, 8% lower than in Q3 2015. This mirrored a more general trend, with overall adviser platform purchases across the board down 9% in Q4 compared to the previous quarter.

Unlike overall platform purchases (which fell by 5%), purchases of investment companies were higher in Q4 2015 than in Q4 of 2014, by 11%, the AIC reported.

The most popular sectors in 2015 were:

1. Global (16%)

2. UK Equity Income (12%)

3. UK All Companies (10%)

4. Property Direct – UK (9%)

5. Infrastructure (6%).

Mr Sayers added: “Demand for training remains high and we have now trained over 4,000 advisers. This year the AIC is running more adviser events than ever with fourteen workshops starting in May and five fund manager seminars starting in September.

“We are also supporting the Personal Finance Society investment road shows in May and numerous other national and regional events.”