Wrap and platforms

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Standard Life boss: ‘No reason’ for advisers to abandon Elevate platform

Standard Life says there is no reason for advisers to abandon Axa’s Elevate platform after Standard Life completed its acquisition of the platform today. The acquisition was confirmed in May and will almost double Standard Life’s customer base, bringing over 160,000 to the business, and raising total numbers to 350,000. Speaking to Money Marketing, Standard Life […]

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Transact cuts annual charges and threshold

Transact has further cut its charges and reduced the threshold for the level of assets that incur a 0.5 per cent charge. By April, the investment platform will lower its charging threshold for clients being charged 0.5 per cent to £120,000 from £150,000. This was already reduced from £180,000 to £150,000 at the end of 2015. […]

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Aegon to power Nationwide investment advice after Cofunds deal

Aegon has signed a deal to continue managing Nationwide’s online investment service following its acquisition of Cofunds. Aegon confirmed its £140m acquisition of Cofunds last week after a verbal agreement in February. Through the acquisition Aegon also inherited Investor Portfolio Service, a system where investments are managed online. Nationwide has £8bn of assets managed through the service […]

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Advisers urge Aegon for heavy Cofunds investment

Advisers have registered a mixed response to Aegon’s acquisition of Cofunds with hopes the insurer will invest more in the platform than previous owner Legal & General, alongside price-hike concerns. Aegon confirmed its purchase of Cofunds for £140m in its results announcement this morning. The deal means Aegon will be the biggest platform provider in […]

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Barclays bids for TD Direct to rival Hargreaves Lansdown

Barclays has emerged as a surprise bidder for stockbroking firm TD Direct Investing in a bid to rival retail investing giant Hargeraves Lansdown. Sky News reports Barclays has put in a bid for the TD business and is among a small number of firms looking to acquire the firm. TD Direct Investing is being sold off […]