View more on these topics

Fee trend to close gap between platforms and wraps

The services offered by fund supermarkets and wraps will converge over the next three years as more advisers move to fees, predicts Cofunds chief executive Charlie Eppinger.

At a FundsNetwork/Cofunds forum in London last week, Eppinger said the gap is already narrowing as fund supermarkets branch out into pensions and investment bonds.

He expects the trend to accelerate as increasing numbers of advisers move from commission to fees.

Eppinger said: “The industry will get away from up-front commission and the difference between wraps and platforms will disappear. Three years from now, the systems, technology, fee structures and who they service will be the same.”

Transact sales and marketing director Malcolm Murray says: “There will be a convergence of the products offered by platforms but I think there will be a divergence in terms of how they are paid for. At Transact, the client pays for everything. I would imagine the likes of Cofunds and FundsNetwork will evolve into a wrap but I think they will keep the route where the fund manager pays the IFA.”


Prime suspects

If you were of the view that the sell-off two weeks ago was but a momentary blip, life was pretty tricky at the beginning of last week.

Initial charges cut on Liontrust funds

The Liontrust first opportunities and focus 350 funds are being offered at no initial charge until June 30 to mark the funds’ first anniversaries.

Government set to reverse Personal Accounts cap decision

The Government has strongly hinted it will reverse its decision in the Personal Accounts White Paper to set the maximum cap on the scheme at £5,000 rather than £3,000.Speaking yesterday at work and pensions questions, Work and Pensions Secretary John Hutton told Parliament he had reconsidered the decision, in response to a question from Tory […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm