Skandia platform powers 140% sales jump

Skandia UK has posted a near 140% surge in sales during the first nine months of the year as RDR drives demand for its SIS platform.

The company says net client cash flow (NCCF) climbed 138% to £1.9bn in the period compared with last year, attributing the healthy figures to increasing demand for its platform in the run up to RDR. It says changing customer requirements driven by RDR are both increasing demand for platform services whilst reducing demand for traditional life products. Funds under management increased 13% since the beginning of the year to £31.9bn, reflecting both the positive NCCF and growth in stock markets. Mutual fund sales contributed significantly to this growth, up 85% to £2.5bn compared to...