Technology

Fidelity has expressed "sympathy" for wraps following plans for a cash rebate ban - a move it says will be difficult to implement - and thinks the regulator may reconsider its position.

Elevate says the cash rebate ban is "not a massive deal" but has nevertheless vowed to lobby the FSA in an effort to understand the "confusing" rationale behind it.

Holly Mackay, managing director of The Platforum, believes the FSA's Platform Consultation paper is broadly good news, but there are some key points to answer.

Transact says the proposed ban on cash rebates could lead to "unintended consequences" and consumer detriment and suggests the issue could be better dealt with through improved disclosure.

Despite the hegemony of the big three platforms there is still plenty of room for newer players to thrive, according to research house Fundscape.

Ascentric has announced a new charging structure as it looks to reach out to advisers placing lower value cases on the platform.

Software provider True Potential has added full fact-finding and risk profiling capabilities to its iPad application for advisers.

Hargreaves Lansdown has questioned whether cuts to fund charges post RDR will be as widespread as the FSA forecast in its recent Platform Consultation paper, as providers struggle to cope with IFA exits from the market.

An IFA has expressed concerns the closure of Macquarie's wrap platform could affect his relationship with new clients.

The FSA plans to publish a separate consultation paper on how platforms should disclose their charging structures, including fund manager rebates, on top of its second consultation document in February.