Wrap/platforms

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.

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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.

Morningstar's managed portfolio service for advisers is now available on Transact.

Platform Novia is to launch its own fund management arm in the final quarter of the year, providing advisers with a range of risk-rated portfolios to offer to clients.

ATR