Wrap/platforms

Media coverage on the FSA's delayed platform policy statement has been very interesting, but more for what it didn't say, according to Alastair Conway, sales and marketing director at Cofunds.

This week I spoke to Tim Newman, managing director of Sense and one thing was clear, this is a network that knows its role and its vision.

FundsNetwork has urged the regulator to review the "EasyJet" style charging structure of wraps in its consultation on platform charging models.

Axa Wealth platform sales on Elevate increased 107% in H1, bringing total platform assets under administration at the end of Q2 to £2.9bn.

Praemium founder and CEO Arthur Naoumidis has resigned with immediate effect.

Fidelity FundsNetwork has laid down the gauntlet to rivals by pledging to disclose payments it receives from fund groups by the end of the month.

A power cut at platform Skandia's London HQ meant advisers had to send client trade requests via fax on Thursday.

Adviser support group Tenet has launched a technology platform aimed at helping adviser firms transition to the retail distribution review (RDR).

Advisory support group Tenet is to review the panel of platforms it recommends to IFAs following a warning from the Financial Service Authority about the use of platforms which permit rebates from providers to clients.

David Ferguson, CEO of Nucleus Financial Group, sees only good news in this week's platforms Policy Statement.