Technology

Ascentric chief Hugo Thorman has called on the platform community to adopt a "unified voice" amid an escalating row between fund supermarket and wrap propositions.

SIPP investors who have the vast majority of their assets held in Unit Trusts or OEICs may be better off using a platform pension due to cost, says Skandia.

Novia has boosted its discretionary management capability by teaming up with passive manager Seven Investment Management (7IM).

Wrap platforms could see their business models "severely challenged" in 2012 as the proposed ban on platform rebates takes centre stage, said Skandia.

Transact has told advisers it is not looking to expand into the direct to consumer (D2C) or workplace savings markets and will instead focus solely on the IFA space.

Fidelity FundsNetwork has added Hawksmoor Investment Management to its discretionary management service.

Wrap Transact suffered a £3m drop in profits last year after it was hit by an FSA fine for client money breaches.

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The platform market underwent permanent change in 2011.

Next year will be a decisive year for fund supermarkets as they look to make the "huge transition" to the unbundled world, say wrap platforms.