fund platform

Sanjeev Shah is to step down as manager of Fidelity Special Situations at the end of 2013, while colleague Allan Liu is to step back from the group's UK-domiciled South East Asia fund.

COST-CUTS

Platform providers who are overcharging for propositions are finding the "the noose is tightening" around them, according to a new pricing guide.

PLATFORMS

The Financial Conduct Authority (FCA) has agreed to issue further guidance on the treatment of legacy cash rebates as part of its next quarterly consultation paper.

Independent wrap platform IFDL is putting its direct-to-consumer (D2C) business Fundsdirect up for sale.

Seven Investment Management (7IM) has seen assets under management (AUM) pass the £5bn mark for the first time in the firm's eleven year history.

Hargreaves Lansdown has ruled out the prospect of taking marketing fees from fund groups or allowing advertising on its website, saying it wants to offer a 'transparent' fee structure when new regulations are implemented next year.

Nucleus has placed the ownership structure of the wrap under review in light of adviser charging rules concerning potential conflicts of interest.

Nucleus Financial CEO David Ferguson has said he believes the wrap has hit "sustained profitability" after it posted record first-half profits.