Wrap/platforms

Hargreaves Lansdown is planning to secure "as good if not better" terms with fund groups on super clean share classes as Standard Life, after the latter announced it had secured preferential deals with 15 fund providers.

Standard Life has claimed it has secured super-clean fund classes from 15 major fund groups, the first confirmation that asset managers are willing to give ground on pricing.

The Financial Conduct Authority (FCA) is being urged to include an 'opt out' clause for clients when platforms begin switching clients to 'clean' funds en masse.

Transact head of marketing Malcolm Murray has announced his intention to depart the firm after nearly 13 years employment.

Platforms will need to have at least £40bn in assets under management to survive the margin squeeze caused by new regulations, research by Deloitte has claimed.

The majority of adviser firms anticipate placing more than 75% of new assets in clean share classes, according research carried out by AXA Wealth.

Financial advisers are being invited to cast their votes in three key categories at the Aberdeen UK Platform Awards.

Axa Wealth has added 850 clean share classes to the Elevate platform, meaning that 90% of funds on the platform are now available with this option.

Platform Novia has seen its profits before tax jump by more than a fifth in 2012, after assets climbed sharply to rise above £1.4bn.

Axa Portfolio Services - the parent company of the Axa Elevate platform - has reported a pre-tax loss of £29.9m for the year ending 31 December 2012, representing a 10% improvement on the £33.5m loss recorded for 2011.