Technology

Paul Feeney has told Investment Week the terms negotiated on Skandia's soon-to-be-launched Select fund range will enable the group to offer the "best model portfolio service" to UK advisers and help them take power back from other distributors.

The platform industry will struggle to ever break even as a whole, according to research into firms' financial stability.

Aviva is to allow advisers to outsource investment to discretionary fund managers as part of its managed portfolio service.

Nucleus has appointed three new regional account managers to its business development team.

Axa Wealth has cut its sales team by 30 staff in a bid to restructure the business following the completion of several projects.

NFU Mutual is to launch a basic platform to give advisers and direct clients access to external fund groups for the first time.

Paul Feeney, the chief executive of Skandia's parent company Old Mutual Wealth, has vowed to tackle a series of administration problems impacting users since the start of the year.

Former Cofunds head of commercial Russell Lancaster is joining Fidelity as sales director.

Technology company Sammedia is to power Cofunds's service for advisers looking to offer clients self-directed services.

Fidelity FundsNetwork has joined the growing number of platforms looking to benefit from an exodus of Skandia sales staff.