Wrap/platforms

Cofunds has mounted a defence against growing criticism of its negotiations with fund managers, saying the platform is only seeking to rectify the "imbalanced" terms offered to other propositions in the market.

Over the years experience has taught me that, when a price sounds too good to be true, a little investigation will prove that it is.

Cofunds marketing and proposition director Alistair Conway has rebuffed Brian Dennehy's suggestions the platform has lost IFA backing, saying its sales volumes show the level of adviser support.

Influential financial adviser Brian Dennehy has hit out at Cofunds in an open letter to its chief executive Brett Williams, saying a significant number of IFAs are concerned over the "frequent confusion" in leadership and direction.

TISA, the Tax Incentivised Savings Association, is to host the first meeting in October of an industry group to decide the implementation of an agreed standard for platform-to-platform re-registration.

Novia will offer passively-managed funds from Vanguard Investments on its platform.

Nucleus has bolstered its investment operations and finance teams with four appointments, including a new investment operations manager.

Morningstar Associates Europe has added five fund portfolios to its Portfolio Selections service for advisers and their clients.

Skandia remains the top platform, attracting the highest volume of new sales for the first half of this year, according to the latest data for the platforms market.

Nucleus CEO David Ferguson assesses the future role of life companies in the wrap arena.