Wrap/platforms

SIPP investors who have the vast majority of their assets held in Unit Trusts or OEICs may be better off using a platform pension due to cost, says Skandia.

Novia has boosted its discretionary management capability by teaming up with passive manager Seven Investment Management (7IM).

Wrap platforms could see their business models "severely challenged" in 2012 as the proposed ban on platform rebates takes centre stage, said Skandia.

Transact has told advisers it is not looking to expand into the direct to consumer (D2C) or workplace savings markets and will instead focus solely on the IFA space.

Fidelity FundsNetwork has added Hawksmoor Investment Management to its discretionary management service.

Wrap Transact suffered a £3m drop in profits last year after it was hit by an FSA fine for client money breaches.

The platform market underwent permanent change in 2011.

Next year will be a decisive year for fund supermarkets as they look to make the "huge transition" to the unbundled world, say wrap platforms.

The FSA's understanding of the platform industry has again been called into question after it sent an "odd" questionnaire to operators quizzing them on their relationship with fund managers.

Another year draws to a close and, amid the hideous market turmoil and the ongoing lack of regulatory clarity, the platform sector seems set to post some impressive numbers.