Platforms

Old Mutual Wealth CEO Paul Feeney has dispelled worries about the effects of re-registration on the group's Skandia platform after it made a £2m profit, arguing rivals are behind the curve when it comes to facilitating electronic transfers.

Skandia, one of the UK's largest platforms, has reported a £2m profit in 2012 following a surge in funds under management.

Colin Jelley has returned to Skandia as head of wealth planning following a brief stint at St James's Place (SJP).

Skandia has announced the full list of funds which will make up its Select range, following months of negotiations with fund groups.

Cofunds, the UK's largest platform, has backtracked on its unpopular policy on re-registration after an outcry from peers and advisers.

Fidelity FundsNetwork has expressed surprise over fund managers opting to raise prices in newly-launched clean share classes.

Architas, the investment arm of AXA Wealth, reported assets rose 20% from £9.4bn to £11.3bn in 2012.

The FSA now intends to publish its long-awaited final platform paper in Q2 2013, having originally planned to release final rules by the end of last year.

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).