Skandia

Skandia head of wealth planning Colin Jelley has left the firm after ten months in the role.

Fidelity Worldwide Investment has secured best price fund deals from the vast majority of its major fund partners after groups agreed to sign up to its recently-unveiled Access programme.

A number of asset managers stand to double their market share if they are prepared to be aggressive on super clean pricing, according to research from Barclays.

Skandia's director of investments James Millard is to exit the business at the end of the year after the group opted to hand the running of its managed portfolio service to Old Mutual Global Investors.

Fund groups signed up to Skandia's WealthSelect proposition are holding further talks with the platform after it altered its pricing plans, sparking concerns over margins.

Old Mutual Global Investors (OMGI) has reported rising net sales in the third quarter, which it attributed to strong flows into its new UK Alpha fund for former Schroders' head of UK equities Richard Buxton.

Skandia has abandoned plans to buy small stakes in IFA firms following conversations with the Financial Conduct Authority (FCA) in which the regulator said it was "uncomfortable" with the idea.

Old Mutual Wealth has promoted Peter Mann to vice chairman, with Steven Levin taking over the day-to-day running of UK distribution.

Skandia is to allow advisers to take trail commission until the April 2016 deadline, putting it on a collision course with rival platforms intending to bulk switch clients as early as next month.

Old Mutual has replaced Jupiter and Newton on a number of mandates within its £234m European Best Ideas fund with a range of in-house Old Mutual managers and Alken's Nicolas Walewski.