Gross sales for the first three months totalled £21bn, a 19% increase on like-for-like sales in 2013, while net sales rose by over 20% to £11bn.
Fidelity, Hargeaves Lansdown and Standard Life formed the top three platforms by net sales.
Research by Fundscape showed that Fidelity excelled in its defined contribution activity, while Hargreaves Lansdown outperformed in the direct-to-consumer world and Standard Life rose as a result of it retail advised wrap business.
Chief executive at Fundscape, Bella Caridade-Ferreira, said: “The second quarter is when ISA investments reach their peak, thanks to a combination of late and early-bird investors, and so it’s usually the best quarter of the year.
“However, the good news in the March 2014 budget is likely to have boosted investor sentiment and flows even further.”
Earlier this week, platform provider Praemium UK announced that it is to broaden the distribution channels of its Smartfund Advantage fund range to include distribution into Asia, Europe and the Middle East.
Following a broad restructure, the company said that advisory firms are already beginning to offer their white-labelled range of SmartFunds to investors in the regions via international investment platforms and insurance and pension products.
