The UK’s Retail Distribution Review, which bans the payment of commission to financial advisers, is changing the way exchange-traded funds are sold, with fund platforms benefiting the most. But there is still a long way to go, as many European fund supermarkets are not ready to trade in ETFs, unlike their US counterparts.

Platforms are an increasingly important part of BlackRock's ETF business iShares. According to data released by the firm last month, inflows into its ETFs through the online portals have grown by 23% to £1.05 billion in the first three quarters of 2013.