Newly-launched trade association The Platforms Association has expanded to 46 members just two months after launching.

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.