Skandia predicts bonds and pensions will rush to wraps
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The majority of IFAs are planning to increase the amount of pension and bond business they write via a platform in the run-up to the retail distribution review, according to Skandia.
The provider says its survey of 1,300 financial advisers shows that while 39 per cent already hold more than 50 per cent of their pension business on platforms, nearly one-third hold less than 10 per cent on a platform. Of those, 75 per cent say they will increase the amount of pension business written via platforms over the next two years.
Forty-nine per cent of financial advisers transact less than 10 per cent of their onshore bond business via platforms. However, more than two-thirds say they will increase their use of platforms for bond business significantly as they move towards 2013.
Skandia platform marketing manager Jeremy Mugridge says: “The results from this survey highlight a growing belief from advisers that investments, which were previously kept separate from one another, will benefit hugely from being consolidated on to platforms as we look towards the RDR.”
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