Wrap/platforms

Skandia UK has reported an increase in funds under management to £35.6bn for the first three months of the year, but net sales slipped 50%.

The platform market recovered momentum in Q1 with assets under administration (AUM) growing nearly 10% on the back of rising stock markets, research has found.

Assureweb has been bought out American-based iPipeline as part of its expansion into the UK market.

James Hay Partnership is rolling out a reduced charging structure on its wrap for new and existing customers.

Wrap provider Nucleus has reported an operating loss of almost £1m for 2011 as the group invested in its proposition.

National IFA AWD Chase de Vere has appointed Cofunds as the main platform provider for its mass-affluent client segment.

The majority of advisers will not offer a self-directed service to clients after the Retail Distribution Review (RDR), recent findings suggest.

Adviser firm Dennehy Weller & Co has launched a research-based fund platform for self-investors.

Axa Wealth has linked with discretionary manager Brooks Macdonald Asset Management (BMAM) to offer advisers risk-profiled portfolios.

GBST head of UK business Ian Wilkinson is joining technology provider International Financial Data Services (IFDS).