Wrap/platforms

PRICE WAR

Hargreaves Lansdown's unbundled price structure will see it charge an annual fee of 0.45% for sub-£250k clients, with the group having also negotiated an average AMC for new 'Wealth 150+' funds of just 0.54%.

Morgan Stanley has upped its price target on Hargreaves Lansdown by 50% just 24 hours before the platform reveals its new fee structure, after the bank's analysis suggested consumers are prepared to pay more for advice and platforms than previously anticipated....

Nucleus is considering launching a direct-to-consumer (D2C) platform in an effort to better serve the 6,000 orphaned clients it currently redirects to Hargreaves Lansdown each year.

Transact has said it will halve both its buy commission and dealing charges from 1 March.

Few advisers have lost clients as a result of changes to how they are paid, according to a survey suggesting a happier intermediary sector than this time a year ago.

J.P. Morgan Asset Management (JPMAM) is to discontinue third party funds on its Wealth Manager Plus direct to consumer (D2C) platform.

Adviser network Openwork has announced that assets have reached £1bn, across its own platform and the Zurich investment platform.

Wrap platform Nucleus has reported a 34% increase in inflows, year on year, boosted by a post-Retail Distribution Review (RDR) surge in business.

Allfunds Bank has appointed former Legal & General (L&G) platforms and policy director Danny Wynn as head of fund groups for UK, Ireland and the Middle East.