Wrap/platforms

The Financial Services Authority (FSA) is planning to ban rebates on legacy business which are paid by fund groups to platforms from 2016, in a move which will shake up the platform industry and force providers to charge groups for additional services....

Alliance Trust Savings (ATS) has turned its first monthly profit, according to accounts filed today.

Aegon has said a drive to clean share classes represents the "only way forward" for an industry reeling from a proposal to replace cash rebates with unit rebates.

Adviser firm Informed Choice has appointed Fidelity FundsNetwork to run its direct to consumer (D2C) platform, IC Direct.

Graham Bentley has quit Skandia in the fallout from the group's merger with Old Mutual.

Standard Life is investigating an error that has left thousands of advisers being quoted inflated fund prices on a number of platforms.

Consultancy The Platforum has dismissed speculation the Financial Services Authority (FSA) is set to ban unit rebates as part of its platform paper.

Standard Life has suffered net outflows for its UK retail business, following an 11% rise in redemptions.

Advisers are equally split on whether the Retail Distribution Review (RDR) will have a beneficial impact on the industry, according to Skandia.

Aviva has added discretionary fund manager London & Capital's (L&C's) 13 portfolios to its platform.