AFH Group boss slams platforms as ‘dead weight’
UK investment management company AFH Group has blasted platforms as too expensive and announced the company will be absorbing fees for new clients and scrapping them for existing clients.
Platforms
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FCA overestimates platform leverage with fund houses
The Financial Conduct Authority has failed to recognise platforms with whole of market fund offerings lack the negotiating power of their peers who have buy lists or limited fund ranges as it calls on the industry to drive down fund fees on behalf of consumers.
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The seven FCA remedies proposed for the platform industry
From banning exit charges to drawing on the platform industry to tackle orphan clients, the Financial Conduct Authority (FCA) has outlined seven remedies to improve consumer outcomes.
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Architas share class changes level playing field for platforms
A move by Architas to extend superclean share classes to all UK platforms shifts the competitive advantage held by large players in the market.
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Rothschilds back retail investment platform
Two members of the famous Rothschild family have put their own money behind an AI-powered wealth manager offering for UK retail investors.
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Nucleus confirms plans to pursue Aim-listing
Platform provider Nucleus confirmed on Monday it is pursuing a listing on the alternative investment market (Aim) with trading to commence in late July.
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Invesco forges adviser links with Intelliflo deal
Invesco has entered a direct relationship with advisers with the purchase of back-office software provider Intelliflo for an undisclosed sum.
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Industry in limbo as HMRC appeals £15m Hargreaves tax win
HMRC’s decision to appeal a £15m tax ruling in favour of Hargreaves Lansdown leaves the investment industry in limbo over discount mechanisms on funds.
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Faulty Aviva platform sends advisers false 10% drop warning
Aviva has been forced to issue another apology to advisers after they were wrongly sent a notification that the value of their clients’ portfolios had dropped by more than 10%.
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FCA mulls disclosure changes in fees experiment
The Financial Conduct Authority (FCA) has said it will consider changing rules and guidance around fee disclosure in a paper examining the results of a behavioural investing experiment conducted with more than 1,000 non-advised investors.
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Fund platforms lose market dominance
Platforms’ market dominance has declined over the past year, according to the Investment Association’s (IA) January statistics.
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Transact receives premium listing in £650m IPO
Integrafin, the parent company of investment platform Transact, has been admitted to the London Stock Exchange’s main market for listed securities.