Platforms

An execution-only investment platform launched a year ago by Surrey-based IFA Informed Choice has closed to new business after its pricing terms became uncompetitive.

HM Revenue and Customs has issued fresh guidance on its decision to tax unit rebates after receiving a number of queries from fund groups and platforms.

Hargreaves Lansdown has said Neil Woodford's new fund management venture could provide a further boost to its business after it reported record net inflows of £1.83bn for the first quarter.

Charles Stanley's pre-tax profits are likely to fall 10% short of market expectations due to rising costs, the wealth manager has warned.

'It's like everyone's over the mental fug of RDR and is ready to hold the industry to account..'.

Hargreaves Lansdown received almost 3,200 complaints in the second half of last year, figures published by the Financial Conduct Authority (FCA) show.

Cofunds' chief executive David Hobbs has told Investment Week the platform has not written off plans to introduce investment trusts to the platform, and may look to include them in future.

AXA Elevate has cut charges on portfolios valued at £1m or more for new and existing customers.

Holly Mackay, the founder and MD of platform advice, research and events business The Platforum, is to take a sabbatical later this year, Investment Week can reveal.

Aegon's decision to introduce price caps on the Retirement Choices wrap and the One Retirement SIPP is "potentially game changing", according to platform consultancy the lang cat.