fund platform

Nearly half of advisers already have the majority of their recurring revenue coming from fees, according to a FundsNetwork survey, less than two years to go until the April 2016 deadline where all on-platform assets need to be moved to clean share classes...

Standard Life has called for platforms with super clean deals to house alternative share classes in order to aid re-registration.

Platform sales reached a new record in the second quarter, according to a Fundscape report which pointed to Budget reforms as a key driver of the surge in interest.

Aviva UK has reported a 21% drop in the value of new life business it wrote in the first half of the year, mainly due to a steep fall in annuity business.

Old Mutual Wealth's soon to be re-branded Skandia platform today reported profits had jumped 400% in the first half of 2014 to £10m, while assets in its recently-launched WealthSelect range hit £1bn.

Transact has appointed Goldman Sachs to broker a full sale of the business, with senior staff open to an exit if a takeover is agreed, Investment Week understands.

The use of super clean share classes by certain platforms is starting to cause 'unintended restrictions' for clients trying to re-register to alternative platforms.

Platform Parmenion has reported a surge in profits of more than 100% in the last year, after its assets under management rose above £1bn.

Aviva's platform has said it is on course to achieve profitability in 2016 and its target of £6bn in AUM by the end of the year, after assets doubled in the last 12 months.

Zurich has overhauled its platform fee structure and announced a cut in its initial investment charge for all clients.