Skandia: Rebates in best interests of customers

Skandia is in talks with fund managers about retaining rebates in its pricing structure after unveiling details of its unbundled pricing model due out in the second half of next year.

Hot on the heels of Cofunds' announcement it is rolling out a new pricing structure, Skandia has detailed plans of its unbundled model which will facilitate adviser charging. But unlike Cofunds, which has requested fund managers issue a "completely clean" share class of 75bps, Skandia thinks rebates should remain and be passed back to customers. The platform is currently holding talks with fund managers about how this could play out. "We believe the rebate mechanism is in the best interests of customers because it enables us to negotiate fund management costs on their behalf and we in...