Skandia

Skandia's decision to switch pension clients out of its Invesco Perpetual Income mandates and into Neil Woodford's new CF Woodford Equity Income fund is expected to cost investors over £6m in trading costs.

Old Mutual Wealth's soon to be re-branded Skandia platform today reported profits had jumped 400% in the first half of 2014 to £10m, while assets in its recently-launched WealthSelect range hit £1bn.

When the FSA first announced its RDR in June 2006, its aim was simple: to ensure consumers knew exactly what they were paying for their funds, platforms, and advice.

Platforms are racing to update their conversion programmes as advisers complain about hefty charges when switching clients into clean share classes.

Brooks Macdonald is planning a ‘substantial' fee cut for its discretionary fund management service, which could see its headline charge fall by up to 30%.

Skandia has negotiated an average deal of 40bps to 45bps for funds in its WealthSelect panel, Investment Week can reveal

Neil Woodford has been handed a mandate on Skandia's WealthSelect range, likely in the region of hundreds of millions of pounds, and the platform will be able to access the manager's 65bps share class.

Discretionary fund managers are failing their customers by adopting opaque and expensive charging structures, according to a new report.

Old Mutual Wealth reported a more than doubling of net flows in the first quarter of 2014, buoyed by its WealthSelect fund panel.

LEADER