Congratulations to Novia who pass the £1 billion hurdle and get an improved AKG rating of B this week. Great effort from the team in Bath.
In a sure sign that platforms are expanding we report £73bn in direct platforms in our latest research to be published next week.
We think there's a pool of 6.5 million active private investors in the UK. Of these, 2 million are hard-core investment aficionados. The rest think it's a bit dull. 57% of them have a multi-channel approach which means they sometimes seek financial advice,they sometimes don't. Platforms are revising their thinking about how they deal with this.
In a sign of how the market's changing we can announce in a global scoop (get us!!) that Charles Stanley is launching a direct platform and will partner up with All My Plans. All My Plans describe this as a "service led aggregation service". In realspeak these guys enable clients to add insurance, GI, bank accounts, DC plans etc to the electronic filing cabinet. We think this is pretty exciting stuff and aggregation starts to become relevant for middle England.
Charles Stanley tell us that "by partnering with All My Plans we will be able to provide an ongoing client service that is of real value not just to the existing self directed market, but also to all those who do not believe they have a strong relationship with any financial services provider or adviser. Of course we will be competitive on cost, but we are more interested in competing on client service than getting into a price war with current incumbents." We don't think pure price plays work anymore with direct fund platforms.
One of the more interesting developments of recent times, methinks. Next week we'll be talking about our new platform analysis tool. Yes, dear old PAT has been Botoxed and filled and we'll be unveiling her on 23rd Feb. We think that platform due diligence is more important than ever.
Have a good weekend. We are off to a Hello Kitty party. Let the good times roll! Holly
Techlink – What you missed (Weekly Bulletin from Technical Connection)
Fri, 27/01/2012 - 11:59Techlink, from Technical Connection, is the smart way for you to:
- Keep up to date
- Have access to a full library of technical information and interpretation on all the key issues surrounding personal and corporate tax, UK and offshore investments, protection, corporate and business markets and trusts
- Get valuable assistance with securing your professional qualifications; and
- Plan and carry out technical CPD and have it automatically logged for you
All of this content is delivered through an extensive and regularly updated range of text based doc
True Potential wants 200 advisers by end of 2012
Fri, 27/01/2012 - 09:00True Potential is looking to increase its national IFA proposition from 15 advisers to 200 by the end of the year.
Platforms best way to control DFM service
Thu, 26/01/2012 - 15:04Financial advisers who are thinking of using a discretionary fund manager should do so through a a platform, according to the managing director of Avalon.
Going the extra mile
Thu, 26/01/2012 - 14:45If ever there was a year that will make or break careers, it is this one and there are already signs of squabbling among platform providers.
L&C adds portfolios to platform
Thu, 26/01/2012 - 14:43Discretionary fund manager London & Capital has made its managed portfolios available through the Nucleus platform and is negotiating with two additional platforms.
Half of advisers intend to use one platform post-RDR
Thu, 26/01/2012 - 14:43Almost 50 per cent of intermediaries intend to ignore FSA guidance on platform use and client segmentation.
Novia boosts discretionary offering
Wed, 25/01/2012 - 15:32Thurleigh Investment Managers has launched a set of risk-managed model portfolios on platform Novia.
Ascentric platform links up with Moneyinfo portal
Tue, 24/01/2012 - 14:30Wrap Ascentric has integrated with Sammedia’s Moneyinfo portal, which allows investors to see their bank account and credit card balances alongside their investment portfolio.
JHC and Cofunds create fully automated interface
Tue, 24/01/2012 - 13:04JHC is pleased to announce a major development to its market leading product FIGARO to enable fully automated straight through processing (STP) to Cofunds, the leading funds custodian.
Novia hits £1 billion in assets and boosts financial strength rating
Tue, 24/01/2012 - 12:32Wrap Novia has grown assets under management to over £1 billion and had its financial strength rating upgraded on the back of breaking into profitability and last year’s tie up with life company Aegon.
Techlink – What you missed (Weekly Bulletin from Technical Connection)
Mon, 23/01/2012 - 10:35Techlink, from Technical Connection, is the smart way for you to:
- Keep up to date
- Have access to a full library of technical information and interpretation on all the key issues surrounding personal and corporate tax, UK and offshore investments, protection, corporate and business markets and trusts
- Get valuable assistance with securing your professional qualifications; and
- Plan and carry out technical CPD and have it automatically logged for you
All of this content is delivered through an extensive and regularly updated range of text based doc
AXA to segment IFA clients and puts over 50 jobs at risk
Mon, 23/01/2012 - 09:04AXA Wealth is to undergo a restructure in which it will segment its IFA clients and could cut more than 50 jobs.
Barclays to rival Hargreaves by rebating commission
Fri, 20/01/2012 - 14:03Barclays Stockbrokers is looking to rebate trail commission to investors in a move to make it more competitive with the likes of Hargreaves Lansdown.
Platforms planning to add trusts
Fri, 20/01/2012 - 14:00Cofunds and Fidelity Funds Network are both planning to make investment trusts available on their platforms in the run-up to the RDR while Skandia sees their introduction as less of a priority.
