Wrap/platforms

Nearly 50% of the UK's adviser community wants platforms to carry out bulk switches to clean share classes for their clients, research from FundsNetwork has discovered.

Nick Train, a long-term backer of Hargreaves Lansdown, has said the platform's assets could hit £240bn by 2020 - a figure which would mean adding £200bn in AUA over the next six years.

The Venture Capital Trust (VCT) market is on track to generate a significant increase in new inflows this year, according to Albion Ventures managing partner Patrick Reeve, but it is not yet clear what role platforms will play.

Alliance Trust Savings (ATS) is offering £150 cash back to customers who open a new account and transfer their investment from another provider to an ATS ISA or individual dealing account (IDA).

Platform giants Standard Life and Fidelity have attacked Hargreaves Lansdown over its new pricing structure following its release yesterday.

DEAL

Hargreaves Lansdown has revealed it was offered share classes for its new 'Wealth 150+' fund range with annual management charges as low as 0.25% for active equity funds.

POLSON ON HARGREAVES LANSDOWN

Hargreaves Lansdown will not announce the funds on its revamped Wealth 150 list until 1 March - but said it has secured annual management charges (AMCs) as low as 30bps for some active equity funds.

Discount broker Clubfinance is replacing the tiered annual fee structure on its investment platform with a flat rate of 0.24%.