Platforms

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.

Legal & General (L&G) has signalled its intention to become a "major player" in delivering low cost passive investment solutions to UK retail clients as the group saw profits rise 13% in the first half of the year.

Fidelity is to cut the annual management charge on its range of 15 multi-asset funds for advisers investing through its FundsNetwork platform, after the Financial Conduct Authority banned a cross-subsidy deal.

Former Skandia marketing head Nick Dixon is to join Aegon UK as investment director, Investment Week understands.

The Financial Conduct Authority (FCA) has agreed to issue further guidance on the treatment of legacy cash rebates as part of its next quarterly consultation paper.

Cofunds head of fund group relations Michelle Woodburn is stepping down from the role after six years with the platform.

Independent wrap platform IFDL is putting its direct-to-consumer (D2C) business Fundsdirect up for sale.

Seven Investment Management (7IM) has seen assets under management (AUM) pass the £5bn mark for the first time in the firm's eleven year history.

GOSLING'S GROUSE

Hargreaves Lansdown has ruled out the prospect of taking marketing fees from fund groups or allowing advertising on its website, saying it wants to offer a 'transparent' fee structure when new regulations are implemented next year.