Platforms

Cofunds has become the UK's first platform to pass £50bn of assets under administration (AUA).

RWC is adding a distribution share class to its Global Convertibles fund in response to demand from UK discretionary fund managers (DFMs).

MSD Capital, the family office of Dell Computer founder Michael Dell, has been building a short position in Hargreaves Lansdown as the group's share price takes off.

Platform giant Hargreaves Lansdown has said it is ready for any price war started by rivals looking for a foothold in the direct to consumer market.

Self-directed wealth platform Hargreaves Lansdown has posted record half-yearly revenue and profits as the business noted a "general trend" towards DIY investing as a result of changes brought about by the Retail Distribution Review (RDR).

Platform giant Skandia has reversed its post-RDR stance requiring advisers who take a percentage fee to get a new client agreement every time a top-up into an investment is made.

Kuber Ventures has unveiled a six strong line-up of EIS fund managers, two months on from launching the first ever EIS platform.

Former Cofunds head of sales and marketing Alastair Conway has joined James Hay Partnership as chief executive.

Paul Feeney has told Investment Week the terms negotiated on Skandia's soon-to-be-launched Select fund range will enable the group to offer the "best model portfolio service" to UK advisers and help them take power back from other distributors.

The platform industry will struggle to ever break even as a whole, according to research into firms' financial stability.