Wrap/platforms

Skandia will offer both unbundled and bundled charging structures as well as broadening the range of investments on its platform to help advisers meet RDR requirements.

Aviva has relaunched its wrap and SIPP platform, over two years since it was forced to close its Lifetime operation to new business because of service issues.

Skandia has added the Iveagh Wealth fund to its investment solutions platform and life and pensions fund range.

Up to £8bn could exit with-profit bonds over the next three years, according to Skandia.

The FSA remains undecided over how to apply its adviser charging rules to platforms less than three months before a planned Policy Statement and amid growing calls for the total unbundling of costs.

Nucleus has appointed Barry Neilson, formerly of F&C Investments, as business development director.

The James Hay Wrap will be separated from the SIPP business and sold, following the acquisition of James Hay by IFG Group.

Royal London 360 has appointed its first wrap relations manager in response to the increasing popularity of wraps and their importance to the company's offshore bond proposition.

Cofunds sales jumped nearly 20% in 2009, with assets under administration (AUA) soaring more than 55%.

Investors shied away from cash and fixed interest towards the end of 2009 and gradually moved into equity and property investments, according to Skandia.