Wrap/platforms

Is time running out for advisers looking to dip their toe in execution only?

Chelsea Financial Services is cutting its headline annual charge from 0.5% to 0.4% from 6 April, as it moves to compete with rivals in the direct to consumer (D2C) space.

Prudential UK has struck a deal with technology provider IRESS to use its XPlan wealth management platform for its 300-adviser restricted advice proposition.

Investors suing Capita for compensation over the failed Arch Cru fund range are writing to up to 40 wraps and platforms asking them to pass on details of their action to clients who were also invested in the collapsed funds.

Henry Brennan finds out what the D2C price war could mean for market sustainabilty

Aviva anticipates its platform will have achieved profitability by the start of 2016 and has set a target of £6bn in assets under management by the end of this year.

Are some platforms indirectly in competition with their adviser clients?

Charles Stanley has rolled out its Collectives Portfolio Service to five platforms.

Axa Wealth has reported a 53% increase in sales for 2013, with inflows on the Elevate platform rising to £2bn.

Aegon's UK business has reported a £5m fall in earnings before tax for the final quarter of last year, which it said is the result of a £7m spend on technology including on a non-advised platform.