Feeney: Skandia Select range will challenge DFMs on price

Paul Feeney has told Investment Week the terms negotiated on Skandia's soon-to-be-launched Select fund range will enable the group to offer the "best model portfolio service" to UK advisers and help them take power back from other distributors.

Feeney, the chief executive of Old Mutual Wealth, which owns platform giant Skandia, said the range can challenge many model portfolio propositions offered by discretionary wealth managers by taking them on in their own backyard at “prices they cannot match”. The Select range is made up of around 50 funds from leading fund groups, including BlackRock and Aberdeen. While the line-up is not finalised, the range will see popular managers from the groups running versions of their existing portfolios on a sub-advised basis. Feeney, who is spearheading Skandia’s conversion from one of the l...