Investment company purchases on platforms by advisers and wealth managers are up 53% in the first six months of 2013 against the same period last year, research by the Association of Investment Companies (AIC) suggests.

Old Mutual Wealth Management has appointed ex-Cofunds chief executive Charlie Eppinger to the board as an independent non-executive director.

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Axa Elevate has increased the limit on the number of investments within model portfolios on the platform in response to adviser demand.

Barclays head of compliance Hector Sants is taking a leave of absence due to a diagnosis of stress and exhaustion.

More than half of IFAs plan to migrate the majority of clients' assets onto wrap platforms within the next two years, but uncertainty remains over compliance issues like cost, according to a survey.

UK equities overtook global specialist funds to become the second most popular asset class on the Skandia platform in the third quarter, with multi-asset funds remaining in the top spot.

The vast majority of advisers are operating percentage-based charging structures, a poll of more than 1,000 practitioners suggests.

Simplybiz has bought back Standard Life's 10% share in the group for an undisclosed sum.