Wrap/platforms

Hargreaves Lansdown has pushed back the launch of its new pricing structure - which includes the switch to super clean pricing on funds - after claiming it is under "no pressure" from rivals to act first.

A new execution-only platform has entered the market allowing DIY investors to manage their portfolios in one place.

Wrap platform Nucleus has launched a recruitment club in partnership with Redmill Resourcing.

Hargreaves Lansdown said the move to super clean share classes will not automatically lead to a "new normal" annual fund charge of 65bps, claiming it has already negotiated greater discounts with some groups.

Are advisers better off leaving fund share class conversions to platforms (as some have suggested), or should they carry it out themselves?

Standard Life has agreed discounted ‘super clean' share class deals with seven fund groups - including Cazenove, Schroders and Threadneedle - with a further four set to be announced by the end of October.

Cofunds has reinstated the platform charge on its self-invested personal pension (SIPP) after adding trading accounts to client funding options.

Standard Life has so far only managed to secure super clean share classes from 11 of the 15 fund groups it originally said it had agreed terms with, IFAonline's sister title Investment Week understands.

Cofunds chief executive Chris Last is to retire from the platform just six months after taking over the role.

PLATFORMS