Nucleus has committed to allowing Skandia access to its rebate information after initially refusing to disclose the payments it gets from fund firms.
The pledge from chief executive David Ferguson to reveal previously guarded rebate information to Skandia emerged after a comment from Ferguson calling on platforms to practise what they preach and operate transparent business models.
Skandia platform marketing manager Jeremy Mugridge responded by saying: “Why wouldn’t you give us your information for Platformwatch if you are such an advocate for transparency?
“We were the first platform in the market to go out into the market and offer a like-for-like cost comparison. You sent a letter saying your rebate information was confidential and we should not have it and we should not be publishing it. On the one hand you are telling us it is confidential and on the other hand you are telling Skandia that we should disclose it.”
When pressed on whether he would now provide Skandia with rebate information for Platformwatch, Ferguson said: “Absolutely. I have no problem with that at all and I would be even more happy to do so if you would extend the investment availability to include assets you do not offer yourselves.”
Mugridge replied: “If you give us the budget to help us do that we would be more than happy to.”