Wrap/platforms

Ascentric has posted a £0.6m loss for the 2013 financial year after "significant" investment in technology which cost it £1.6m.

Advisers have overcome the biggest hurdles they were confronted with as a result of the Retail Distribution Review (RDR), according to a poll, with the number reporting they are still in "survival mode" having halved.

National wealth manager Succession has appointed Aegon's workplace savings platform to provide a bespoke wrap proposition for its corporate clients.

Holly Mackay, the founder and MD of platform advice, research and events firm The Platforum, has resigned from the business, Investment Week understands.

Platforms could be hit with a £10m bill in order to make sure they comply with new EU tax rules, the Tax Incentivised Savings Association (TISA) has warned.

Tax planning specialist Octopus has hired Shaun Sandiford from AXA Elevate to head up its relationships with platforms.

Confusion about changes to pension rules will drive a huge surge in demand for pensions advice, according to a FundsNetwork adviser poll.

The vast majority of advisers have faith they will adapt successfully to a world without trail commission, but one in ten say it could mean they cease trading, according to a survey.

Investors will find their choice of platforms has halved in as little as ten years' time, according to FundsNetwork advisory services head Jon Everill.

Advisers using FundsNetwork may convert clients to funds' clean share classes en masse from January 2015, the platform has said.