Ascentric has posted a £0.6m loss for the 2013 financial year after "significant" investment in technology which cost it £1.6m.
Jon Taylor, head of the former Co-op life insurance business, is to replace Hugo Thorman as managing director of platform Ascentric.
Platform Ascentric has removed the set up and transfer-in costs on its in-house self invested personal pension (SIPP) and cut its annual tax wrapper fee from £150 to £100.
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Royal London Asset Management (RLAM) has reported a record year for external new business in 2013, with gross inflows up almost 70%, a highlight in a strong set of results for its life company parent.
A record year to date performance has taken Ascentric and IFDL past the £7bn milestone for assets under administration.