wrap platforms

Platform software provider FNZ has reported pre-tax profits of £20.7m for 2011 - double its predicted target.

The winners of the Aberdeen UK Platform Awards 2012 were announced at a glittering awards ceremony in London last night.

The Association of Independent Financial Advisers (AIFA) has warned that a proposed ban on cash rebates by platform service providers could lead to increased costs for consumers.

A number of platforms have questioned the Financial Services Authority's (FSA) intention to ban cash rebates to consumers.

Providers attempting to avoid being classified and regulated as platforms could see additional rule changes from the Financial Services Authority (FSA), according to its head of investments policy.

Platforms are failing to deliver expected levels of service to advisers in nine out of ten areas, according to Defaqto.

FROM THE ED

Chris Read looks at the rapidly expanding platform market and asks how it need to evolve to more fully service the retirement market.

Zurich is still undecided about the launch date of its long-awaited adviser platform.

AXA Elevate topped the Platforum's leaderboard for Q2 2012, with assets under administration (AUA) up 7% from £4bn to £4.3bn.