Platforms

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

Paul Feeney, chief executive of Skandia's parent company Old Mutual Wealth, has vowed to tackle a series of administration problems that have affected advisers since the start of the year.

Former Cofunds chief executive Brett Williams is to take an advisory role at Kuber Ventures, a multi-manager platform for Enterprise Investment Scheme (EIS) portfolios.

Fidelity FundsNetwork has joined the growing number of platforms looking to benefit from an exodus of Skandia sales staff.

Skandia has stepped up the pressure on peers in the platform space after moving to undercut competitors on key funds including Neil Woodford's Invesco Perpetual Income and High Income funds.

Cofunds sales and marketing director Alastair Conway is leaving the platform after five years.

Some of the UK's major platforms are considering writing to the FSA to complain about Cofunds, arguing the largest fund platform in the country is prohibiting easy re-registration.

Alliance Trust Savings (ATS) has boosted its intermediary sales team from one to eight members as part of a push into the advised market.

Cofunds has extended its lead as the UK's largest platform, with assets rising to £45bn, according to the Platforum's latest pricing guide.

Global insurer Zurich has named David White as head of retail, UK life, with effect from 21 January.