Wrap/platforms

Aviva has renewed its wrap administration deal with Citi that takes the partnership through to 2022.

Platform software provider FNZ has reported pre-tax profits of £20.7m for 2011 - double its predicted target.

Ascentric has confirmed its post-Retail Distribution Review (RDR) plans, including the banning of legacy commission.

Advisers are confused about the rules over independence and single platform use, according to data from Skandia.

CONDENSED

The winners of the Aberdeen UK Platform Awards 2012 were announced at a glittering awards ceremony in London last night.

Platforms could see a sharp rise in operating costs if multiple share classes exist for pre- and post- the cash rebate ban, according to the Tax Incentivised Savings Association (TISA).

The Association of Independent Financial Advisers (AIFA) has warned that a proposed ban on cash rebates by platform service providers could lead to increased costs for consumers.

A number of platforms have questioned the Financial Services Authority's (FSA) intention to ban cash rebates to consumers.

James Hay has seen its average wrap case size rise 21% in the last six months.