Towry has appointed of Ed Colyer from private bank Coutts as manager of products in its client proposition team.

FIVE THINGS

The platform industry will struggle to ever break even as a whole, according to research into firms' financial stability.

St James's Place has broken its silence over its sacking of Taube Hodson Stonex Partners (THS) after a twenty-year relationship.

Aviva is to allow advisers to outsource investment to discretionary fund managers as part of its managed portfolio service.

Nucleus has appointed three new regional account managers to its business development team.

NFU Mutual is to launch a basic platform to give advisers and direct clients access to external fund groups for the first time.

Paul Feeney, the chief executive of Skandia's parent company Old Mutual Wealth, has vowed to tackle a series of administration problems impacting users since the start of the year.

Former Cofunds head of commercial Russell Lancaster is joining Fidelity as sales director.

Royal Bank of Scotland (RBS) is to pay up to £250m in bonuses to its investment banking division, including to those implicated in the LIBOR-rigging scandal.