Platforms

Cofunds has scrapped its annual £40 fixed platform charge for clients using its explicit pricing model, following its takeover by Legal & General.

Allfunds Bank has poached another Cofunds director, Bradley Lewis, to spearhead its expansion into the UK market.

Charles Stanley Direct has criticised Hargreaves Lansdown over the cost of its platform transfer charges after the country's biggest D2C platform delayed its shift to a new pricing structure.

Old Mutual Wealth has promoted Peter Mann to vice chairman, with Steven Levin taking over the day-to-day running of UK distribution.

Hargreaves Lansdown has pushed back the launch of its new pricing structure - which includes the switch to super clean pricing on funds - after claiming it is under "no pressure" from rivals to act first.

Hargreaves Lansdown said the move to super clean share classes will not automatically lead to a ‘new normal' annual fund charge of 65bps, claiming it has already negotiated greater discounts with some groups.

Wrap platform Standard Life has revealed the names of the first seven fund groups who have offered it preferential ‘super clean' share class deals, with a further four to be announced in the coming weeks.

Wrap platform AXA Elevate has played its hand in the super clean space by revealing it expects to get access to preferential share classes from a range of fund managers.

Standard Life is to abandon its existing platform discounts for large adviser firms in favour of negotiating individual prices with firms based on assets under management, as well as loyalty to the group.

Standard Life has so far only managed to secure super clean share classes from 11 of the 15 fund groups it originally said it had agreed terms with, Investment Week understands.