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Funds on Ascentric platform reach £175m

Ascentric has announced a £75 million increase in funds on its Wrap in under three months. Total funds on the platform, which launched in January this year, now stand at £175m.

Chief executive Hugo Thorman says: “It was only in August when we announced the milestone of £100 million and this growth reflects both the interest in the Ascentric proposition and the IFAs desire and support for wraps.”

“From a standing start, the Ascentric Wrap has to be the fastest growing wrap or fundsupermarket platform in the UK ever”

The Ascentric Platform provides ‘Whole of Market’ access to financial products from a range of providers and tax wrappers, including Pep, Isa, Sipp, Ssas and offshore bonds.


Revenue closes pension loophole

The Revenue has closed a loophole which allowed pension funds to be passed on tax-free at death when held in small self-administered schemes run as family schemes. Any funds passed on will now face unauthorised payment and IHT charges, bringing the total poten-tial tax charge to 82 per cent, in line with the treatment of […]

Aifa appoints new public relations and marketing director

Aifa has appointed Tracy Elwick as its new director of public relations and marketing.Elwick was previously group marketing manager for Pet Protect Limited, part of Domestic and General, and has also acted as a consultant for a number of Government departments.Elwick replaces Tracey Mullins, who left the trade body to move to Dubai, and will […]

‘Timescale is brave’

John Charcol senior technical manager Ray Boulger says: “It is interesting to see Stephen give a timescale for the venture. It will clearly take a lot of time, a year was roughly how long it took Edeus to start up. It is also interesting that he is prepared to say Q4 next year. It is […]

Foundering on the rock?

David Turner, a partner with Foot Anstey Solicitors, on whether, in the face of the Northern Rock fiasco, IFAs need to worry about investors making claims over lost funds


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