Platforms

A wealth manager has launched a platform centered on discretionary fund management that claims to reduce costs for advisers.

Hargreaves Lansdown CEO Ian Gorham has sold an interest in 750,000 of the group's shares for £3.35m and reinvested half the proceeds back in the company.

Skandia has cut 20 of its 100-strong sales force as it restructures its financial adviser sales team ahead of the RDR.

Axa has announced its Architas fund range will be available on third-party platforms for the first time.

The FSA is preparing to extend the deadline for platforms to implement its proposed changes to the industry beyond the current target date of 31 December 2013, Investment Week understands.

Peter Hargreaves, executive director of platform giant Hargreaves Lansdown, has revealed the business intends to move all its clients over to clean fee share classes to meet regulatory changes.

The Financial Services Authority (FSA) has begun informal discussions with key industry players about a potential ban on all fund commission payments from the start of 2014 for business written on platforms.

The Financial Services Authority(FSA) is planning to delay the release of the final rules for platforms until early 2013, Investment Week can reveal.

AXA Wealth has unveiled its post-Retail Distribution Review (RDR) tiered pricing structure, which will come into force from January.

Skandia has agreed a deal with eight external fund groups whose funds will feature in its restricted panel, Investment Week can reveal.