Wrap/platforms

Why the old life company service model just doesn't work

A "combination of politics and pensions" contributed to slower sales across platforms in the first three months of the year, with the year-on-year (YOY) asset growth rate also receding, according to research.

Adviser platform Nucleus received £510m in new assets in the first quarter of the year, following 'record' inflows in 2014.

Axa Wealth reported record inflows to its wrap platform Elevate in the month before the 6 April introduction of widespread pension reforms, taking total assets beyond £10bn and pushing the group's overall funds under management (FUM) closer to the £30bn...

Standard Life's UK business has reported a 5% increase in assets under administration (AUA) following net inflows of £1.5bn and "positive market movements".

Transact has partnered with Octopus Investments to become the first platform to offer venture capital trusts (VCTs) following the introduction of new legislation.

Hargreaves Lansdown co-founder Peter Hargreaves is to step down from the board of the wealth business with immediate effect.

Monica Waller, co-founder of The Investment Network and the Aberdeen UK Platform Awards, has died after a short illness.

Transact has reported record pre-tax profits for 2014 as it gains 10,000 new clients.

Elliott Advisors has responded to Alliance Trust's formal circular to shareholders, rejecting the company's claims and accusing its board of resorting to "personal attacks".