Advisers are moving clients' assets away from old-style fund supermarket platform giants that typically favoured rebates, ahead of next April's switch off of the payment method, according to research by Platforum.
Nucleus has warned some advisers are drastically underestimating the impact the end of platform-based commission will have on their businesses, and suggests it could cut their profits in half.
Client segmentation in the digital age
Sanlam UK made £10m from the sale of its stake in advice network Intrinsic to Old Mutual Wealth.
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.
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.
Retail fund management is "out of control" and should borrow ideas from the institutional sector to radically reorganise, Nucleus chief executive David Ferguson has said.
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Nucleus has boosted assets under administration by 25% year-on-year in the third quarter after a strong summer for gross inflows.
The hideous truth
Wrap Nucleus saw £725m of inflows in the six months to 30 June, with profits jumping 85% as the platform grew its market share.
Platform Nucleus saw its assets under administration jump 37% in 2013 to £6.2bn, with gross inflows up 26% to £1.7bn, driving a sharp climb in profitability.
Nucleus’ Huddart on the preferential fund price ‘smokescreen’
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Why have so many of the preferential fund deals announced in recent weeks been based on unit rebating rather than the launch of super clean share classes?
Price should be the last factor to consider when it comes to platform due diligence
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Charles Stanley has rolled out its Collectives Portfolio Service to five platforms.
Wrap platform Nucleus has launched an ISA toolkit for advisers.
Advisers are being urged to adopt a phased approach to platform due diligence ahead of the introduction of new obligations on 6 April, with pricing as the least important consideration.