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Old Mutual to explore broader platform product range

Peter Mann

Old Mutual Wealth says it will consider offering a broader range of products on the Skandia platform, such as exchange-traded products and investment trusts.

Speaking today during an Old Mutual Wealth investor presentation, managing director for UK Peter Mann (pictured) said the platform will look at adding new fund types, but it will not push for an open architecture proposition.

He said: “We have never been an open architecture platform in the truest sense of the word. We have always had an in-house capability to not put certain funds on the platform.

“A good example is Arch cru funds, we did not like the structure of the funds. A lot of funds presented to us do not make it onto the platform.”

Mann said guided architecture will become the norm as advisers focus more on the advice process and farm out the investment process.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. I have always held Skandia in the highest esteem. and most of this can be attributed to the hard work and diligence of our Skandia Broker Consultant.

    I have recently learnt that he has been made redundant. I truly hope Skandia know what direction they are going in and can afford to waste such talent.

    The foundation of success is seldom built on the bones of those who helped build the structure.

    Temple Bar IFA Ltd

  2. How interesting. I have always wondered how advisers can justify putting ETFs and Investment Trusts on a platform.

    Is this for the clients benefit or the advisers (and the platform)?

    Under the current regime a customer can’t buy an OEIC or unit trust any cheaper if he goes direct, thus making the platform both convenient and cost effective.

    The main attribute of an ETF is cheapness and it is a significant element for an Investment Trust – neither of which cannot be bought any more expensively directly or off platform.

    I would not like to have to sit in front of the FSA and have to justify putting these on a platform from a TCF standpoint.

  3. “A good example is Arch cru funds, we did not like the structure of the funds. A lot of funds presented to us do not make it onto the platform.”

    The FSA post RDR requirements for independence may well place consumers at far greater risk as IFA’s go “Off Piste”, in order to satisfy regulatory requirements for whole of market advice.

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