Wrap/platforms

Novia's ongoing arrangement to build and administer Aegon's platform netted the group's subsidiary £1m in 2012, the latest results have revealed.

FE Research's range of 15 risk-targeted portfolios are now available on the Transact platform.

The automatic conversion of client assets into clean share class funds could result in higher costs for investors, according to Axa Elevate.

Wrap platform Novia has said it will no longer accept cash rebates on new or legacy business from April 2014.

Advisers and consumers should ask ‘critical questions' about whether the experience of using platforms justifies the additional costs and complexities involved, according to Bruce Moss, founder and strategy director at eValue.

HEY POPS

The introduction of super clean share classes will be a short-lived arrangement but one that still has the potential to drive platform consolidation, says UBS Wealth Management executive director Graeme Price.

Five firms have been named on the shortlist for the Best Platform for Adviser Service gong at next month's Aberdeen UK Platform Awards.

Hargreaves Lansdown has moved to officially challenge HM Revenue & Custom's (HMRC's) decision to impose a tax on platform rebates paid to consumers, after the revenue's move to introduce the tax earlier this year.

The Financial Conduct Authority (FCA) has outlined the scenarios in which the payment of cash rebates from providers to consumers can continue after a wider ban comes into force next year.