Clean share classes to attract majority of assets
The majority of advisers believe at least 50% of all new platform business will be directed into clean share classes over the next 12 months.
Platforms
-
-
Raymond James adds bundled pricing
Raymond James has announced an additional bundled pricing model for its administration platform, which it believes enables wealth managers to segment their client base and manage portfolios for various clients through one platform.
-
Platform competition hots up
The largest platforms have lost 20% of their market share over the past three years with the top five now accounting for 70% of total platform business, compared to 90% in 2010.
-
Platform paper puts consumers in the driving seat
Ian Sayers, director general of the AIC, has welcomed the FCA's long-awaited rules outlining how platforms can be paid going forward.
-
Skandia rebates in investor best interest
Skandia is sticking to its plan to maintain rebates on as many funds as possible following the roll-out of its new unbundled share class, arguing the majority of investors will be disadvantaged should they be abolished altogether.
-
Cofunds Mohan to join Allfunds
Stephen Mohan, managing director of operational services at Cofunds, has agreed to join Allfunds Bank in October.
-
All change at Cofunds
Cofunds has announced plans to offer 3,000 clean fee share classes by July, up from 2,700 now, while Fidelity FundsNetwork's aim by June is only a third of that level at 1,000, Portfolio Adviser can reveal.
-
pa analysis fca platform paper wedding night
Just before the end of the 2012/2013 tax year, Her Majesty’s Revenue and Customs confirmed it is to subject any rebates received by investors to income tax. From that point on, the FCA platform paper finally published last Friday (26 April) was an easier one to put together as HMRC trumps FCA in more than…
-
std life skandia divided fca platform paper
The initial reaction has been overwhelmingly positive to the Financial Conduct Authority’s long-awaited platform paper was published this morning which has banned cash rebates greater than £1 for both advised and non-advised platform business.
-
adviser choice decimated FCA platform paper
The number of platform providers is expected to shrink by two-thirds once the terms of the FCA's platform paper are revealed at the end of this month or early next.
-
LandG takes full ownership of Cofunds
Legal and General (L&G) has acquired the remaining 75% share of Cofunds in a deal worth £131m.
-
UK bucks wider fund concentration trend
Less than a quarter of assets in the UK is accounted for by the top three fund managers by size, a figure significantly below those seen elsewhere in Europe according to a study conducted by The Platforum.