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Novia clashes with Skandia on platform transparency

Novia has hit out at Skandia for failing to mention the retail distribution review drive to transparency over charging in its new platform due-diligence guide.

Novia head of marketing Martin Broomfield says advisers should challenge platforms over their charging model as part of due diligence.

Broomfield says: “If you are looking at transparency, Skandia has avoided the questions on that, which is clearly going to have an impact on advisers.”

But Skandia head of proposition marketing Peter Jordan says: “At this stage, there is nothing in writing as far as the RDR and platforms are concerned.

“The key question in the mind of brokers is an organisation’s ability to fund the changes that are required.”


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