Technology

TRADITIONAL life companies have misjudged adviser demand for full wrap platforms and are now paying the cost, according to Skandia.

Merchant Investors, the pensions and investments provider, has launched a valuation website for IFAs.

Nearly nine in 10 Unipass users say the system saves them a minimum of one hour per week, Origo research suggests.

ALLIANCE Trust Savings has successfully transferred the administration of over 4,200 Close Investments Limited (Close) ISAs, PEPs and share plan wrappers to its open architecture investment platform.

Many IFAs are still trialling the platform market before committing to one or more partners, a study by Defaqto suggests.

Life companies are beginning to count the cost of creating full wrap platforms which few advisers are ready to use, Skandia claims.

Standard Life is to accelerate the rollout of its wrap platform in 2008, but wishes to do so in a ‘controlled manner'.

AXA Distribution Services insists it will not follow in the footsteps of Friends Provident and underestimate the wrap challenge.

Cofunds has announced its CEO Charlie Eppinger has become chairman of the platform firm.

Wrap platforms have now reached a ‘proliferation peak', and the industry will begin to consolidate, according to Nick Blake, wrap sales manager at Standard Life.