Funds

Skandia's decision to switch pension clients out of its Invesco Perpetual Income mandates and into Neil Woodford's new CF Woodford Equity Income fund is expected to cost investors over £6m in trading costs.

Aegon UK has given the role of managing director of its non-advised direct to consumer service Retiready to David Beattie, as part of a management reshuffle.

The regulator is to meet members of Tisa to discuss re-registration rules next month, with the trade body reiterating to platforms best practice guidelines when dealing with super clean share classes after issues arose recently.

Wrap Nucleus saw £725m of inflows in the six months to 30 June, with profits jumping 85% as the platform grew its market share.

Advisory and wrap business Raymond James Investment Services has consolidated its return to profit, generating almost £235,000 in 2013.

Product provider Aegon has distanced itself from a view attributed to its head of marketing that advisers have been "disintermediated" and that its future lies in direct relationships with consumers.

Turning Martin Currie into a powerhouse

INVESTMENT TRUSTS

Hargreaves Lansdown is reducing the minimum investment required to open an account from £500 to £100 in a bid to entice low-value clients.

Nearly half of advisers already have the majority of their recurring revenue coming from fees, according to a FundsNetwork survey, less than two years to go until the April 2016 deadline where all on-platform assets need to be moved to clean share classes...