Was 2017 really a banner year for fund flows?

For the third consecutive year, flows into personal pension wrappers are on course to exceed monies going into Isas.

It is perhaps this that has driven the record-breaking year more than anything else: while Isa sales levels are slightly above average, the £6.7bn that has flowed into personal pensions this year is already more than £1bn ahead of the previous annual record. Here, as in so many other areas, the impact of the pension freedoms is making itself felt.