Adviser platform Transact has added the ability to open existing clients’ pension wrappers (such as personal pensions and SIPPs) online.

Net investment sales via platforms fell 30% in the latest quarter to £5.4bn compared to the previous quarter as investors scrambled to protect assets before the Budget.

Investment platform AJ Bell has added Ryan Hughes and Stephen Westgate to its executive committee.

A new trade body has been launched to represent the £1trn investment platforms industry.

Some investment and SIPP providers have been retaining interest earned on cash-holdings to subsidise loss-making platforms, according to an FCA study published today.

Fintech and investment provider Timeline has partnered with The Pension Lab to offer a digital solution to automate and streamline the Letter of Authorisation (LOA) process for advisers.

Over half (54%) of advisers say that current cash interest rates on platforms have helped them attract new clients, according to new research.

Investment and wealth manager M&G is to exit the digital platform market and will merge its life and wealth divisions in a major shake up for the company.