Wrap/platforms

Skandia has taken a number of steps to speed up re-registration processes with platforms that are currently unable to handle automated re-registration.

A Scottish wealth manager has migrated £125m of client assets to Standard Life in seven months, with more than £80m coming from Fidelity FundsNetwork.

Investors with funds in stock and shares ISAs may become liable for tax charges on the bonuses they receive from platforms, The Times reports.

Standard Life is poised to launch several hundred "super-clean" classes in the second half of 2013, despite scepticism the platform will be able to agree terms with fund groups.

Skandia has said its discounted fund panel Select will not be affected by the Financial Conduct Authority's (FCA's) final rules on platforms, despite a ban on subsidies.

Cofunds CEO Martin Davis is leaving the business following a restructure in the wake of its sale to Legal & General (L&G).

Axa Wealth's Elevate platform has seen assets under (AUM)management increase 50% from £4bn to £6bn, according to first quarter results.

Fidelity FundsNetwork has narrowed the gap to Skandia in the latest update of a platform leaderboard ranking providers by assets under administration (AUA).

HM Revenue & Customs (HMRC) is expected to extend its tax on rebates to some discount brokers, even on funds held inside an ISA.

Mike Kellard, chief executive officer at AXA Wealth, explains why the Financial Conduct Authority's (FCA) much awaited platform paper was a bit like his son's football match.