Functionality and cost remain the only real drivers behind advisers wanting to switch platforms in an otherwise increasingly ‘sticky’ market, a survey has found.
Legal & General’s decision to invite offers for Cofunds just two years after it bought the platform is fraught with a number of potential pitfalls, according to industry commentators.
Most advisers are confident their business will be prepared for the upcoming switch-off of fund-based trail commission, according to a poll which contradicts other research conducted on firms' readiness.
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A "combination of politics and pensions" contributed to slower sales across platforms in the first three months of the year, with the year-on-year (YOY) asset growth rate also receding, according to research.
Axa Wealth reported record inflows to its wrap platform Elevate in the month before the 6 April introduction of widespread pension reforms, taking total assets beyond £10bn and pushing the group's overall funds under management (FUM) closer to the £30bn mark.
Standard Life's UK business has reported a 5% increase in assets under administration (AUA) following net inflows of £1.5bn and "positive market movements".
Transact has partnered with Octopus Investments to become the first platform to offer venture capital trusts (VCTs) following the introduction of new legislation.
Hargreaves Lansdown co-founder Peter Hargreaves is to step down from the board of the wealth business with immediate effect.
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