Platforms

AXA Elevate is to lower the discount it offers to users who buy the group's own Architas fund range in 2013.

Standard Life's Global Absolute Return Strategies fund has dropped out of the top ten highest inflows on Fidelity FundsNetwork, according to data from the platform.

Fidelity has appointed head of platform operations Pat Shea to run its FundsNetwork platform.

Assets on Royal London's wrap platform Ascentric grew 42% to £4.7bn in the nine months to 30 September, with new inflows dropping 18% to £856m.

Raymond James has become the first platform to distribute Hermes' UCITs fund range.

The technology firm behind the Cofunds platform is in talks to run a full platform service for the company, Investment Week's sister title IFAonline understands.

Platform giant Skandia's sales force is understood to be facing a significant reduction in numbers after the group - now known as Old Mutual Wealth - revealed there will be 200 jobs lost across the business.

Cofunds is planning to target life companies failing to attain traction in the platform market.

Skandia CEO Peter Mann has said the firm will target restricted advisers as part of a plan to become an integrated wealth manger.

Former Hargreaves Lansdown investment manager Ben Yearsley has joined Charles Stanley to help spearhead the group's new direct-to-client investment service.