Ascentric Wrap

Ascentric, James Hay and Nucleus have all made changes

Platform functionality highlights

'Deliberately simplistic', firm says

Rising property prices could land many with IHT liabilities

Investors are getting dismal interest rates when they hold cash on the UK's biggest advised platforms, with some actually making a loss after fees, an investigation by Professional Adviser has found.

Fidelity FundsNetwork is to make Neil Woodford's Patient Capital trust the first externally-managed investment trust available on the platform, in what it says is a "clear intention" of more to come.

Transact is to cut platform fees for client portfolios of between £180,000 and £300,000 in an attempt to attract new business.

Ascentric has introduced an inclusive platform charge as it moves to give advisers more charging options for their clients.

Ascentric managing director Hugo Thorman is to leave the firm this summer following Royal London's buyout of the platform's minority shareholding in the business.

Ascentric's managing director, Hugo Thorman, has argued advisers' use of model portfolios is hindering the popularity of investment trusts.