Wrap/platforms

Cofunds was the largest UK adviser platform in Q3, in terms of assets under administration (AUA), and has since become the first £60bn fund platform in the UK.

Old Mutual Global Investors (OMGI) has reported rising net sales in the third quarter, which it atttibuted to strong flows into its new UK Alpha fund for former Schroders' head of UK equities Richard Buxton.

Financial services firm True Potential Investments has launched a self-invested personal pension (SIPP) with no annual charges or transfer fees to ease the process of consolidation.

Research and consultancy firm AdviserAsset has launched an online comparison tool which provides advisers with a breakdown of a platform's share class options.

Half of advisers do not believe single platform use should compromise their independent status, a poll suggests.

Alliance Trust Saving has launched an intermediary website following what it said was a four-fold increase in advised business written through the platform.

Some asset management and platform firms are displaying "common weaknesses" in their defences against money laundering, bribery and corruption, the Financial Conduct Authority (FCA) has said.

The Financial Conduct Authority's (FCA) head of asset management has given his stamp of approval to the current round of negotiations between asset managers and platforms, saying it is a good sign for industry pricing.

Standard Life's sales of long term savings products increased significantly in the first nine months of the year on the back of auto-enrolment.

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