Skandia develops legacy switch technology

Skandia is developing technology to transfer legacy products to adviser-charging electronically as part of its drive to make its platform RDR-ready.

The company says the new technology will enable advisers to generate the required documentation to be able to demonstrate the impact of the changes to a client, providing a comparison between the cost of commission payments and fees.

Marketing director Nick Dixon says: “The capability to electronically move assets from commission to the new world is one of the most important requirements of the RDR.”

Murphy Financial associate partner Adrian Murphy says: “This is a good move and is exactly the kind of way technology should be helping advisers.”

Skandia is also developing its unbundled pricing model which it says will be ready by the second half of the year.