wrap platforms

James Hay Partnership's Chris Smeaton on why he believes the FSA will remove its expected cash rebate ban…

Adviser group Paradigm is set to launch a standalone corporate wrap next week.

Ascentric chief Hugo Thorman has called on the platform community to adopt a "unified voice" amid an escalating row between fund supermarket and wrap propositions.

Wrap platforms could see their business models "severely challenged" in 2012 as the proposed ban on platform rebates takes centre stage, said Skandia.

Transact has told advisers it is not looking to expand into the direct to consumer (D2C) or workplace savings markets and will instead focus solely on the IFA space.

Wrap Transact suffered a £3m drop in profits last year after it was hit by an FSA fine for client money breaches.

The platform market underwent permanent change in 2011.

Next year will be a decisive year for fund supermarkets as they look to make the "huge transition" to the unbundled world, say wrap platforms.

Another year draws to a close and, amid the hideous market turmoil and the ongoing lack of regulatory clarity, the platform sector seems set to post some impressive numbers.

Software provider IntelliFlo is putting in place a four year £10m investment programme whilst also announcing an enhanced integration with the Standard Life wrap.