Platforms

Platform Novia is to launch its own fund management arm in the final quarter of the year, providing advisers with a range of risk-rated portfolios to offer to clients.

Hargreaves Lansdown is in talks with a number of fund groups to secure exclusive deals to sell their passive products at discounted prices.

COST-CUTS

Skandia has appointed Standard Life Investments' (SLI's) head of regional client marketing Alistair Campbell as head of investment marketing.

Standard Life aims to convert all investments currently held in bundled share classes on the platform to their unbundled ‘clean' equivalents by the end of the year, it announced today.

Platform providers who are overcharging for propositions are finding the "the noose is tightening" around them, according to a new pricing guide.

PLATFORMS

Old Mutual Wealth has reported a pre-tax profit increase of 14% for the first half of the year to £108m, driven by a surge in gross inflows over the period.

Skandia, part of Old Mutual Wealth, is to outsource its administration to global IT and outsourcing firm International Financial Data Services (IFDS) in a 20-year contract.

The majority of advisers are positive on the impact the retail distribution review (RDR) will have on consumer confidence, while many have said there are signs it has already started to improve.