View more on these topics

Selestia believes it is on the right trail

Skandia says it does not expect to lose business as a result of the decision to cut trail commission on some funds following its merger with Selestia.

Head of platform marketing Peter Jordan says the decision was made to prevent legacy issues arising from the different trail rates paid on some funds by the two platforms.

He says: “We had to make the decision to migrate everyone on to the new platform as leaving some accounts on the old one would have been difficult to manage while we also had to consider the cost of integration.”

Jordan says the changes are bringing the platform fees in line with the market and adds that they will not start until January 2009.

He says: “The trail commission reflects the rebate on these property, fixed-interest and cash funds, which typically offer a lower AMC. It only means a drop from 0.5 to 0.43 per cent.”

But Warnes Anderton IFA Glenn Warnes says he would consider transferring off the platform except for potential tax implications.

Recommended

Editor’s column

Welcome dear reader to the Editor’s column – Money Marketing’s first foray into the online commenting world.The column was originally going to provide some explanations and pose some questions about the retail market, how it was changing, who was making the money, who was beating up whom on margins and where advisers and their clients […]

FSA continues its focus on adviser clawback debts

The FSA has warned it will continue to monitor firms with provider clawback debts after finishing its thematic work which resulted in 11 firms being asked to take remedial action.The FSA announced at Money Marketing Live last Autumn that it was collecting information from providers on adviser firms with large clawback debts. The work has […]

Minister blasts ‘nightmare of regulation’

New trade and investment minister Lord Jones has hit out at the “nightmare of regulation” affecting businesses in the UK.Speaking at a trade and industry select committee meeting in London last week, Jones, minister of state at the newly created Department for Business, Enterprise and Regulatory Reform, attacked what he described as the “risk-averse culture” […]

Woolwich launches new online tool

Woolwich has launched a new mortgage sales tool in a bid to improve its service for intermediaries.Mortgage Application Xpress will enable brokers to confirm mortgage decisions at point of sale, certify ID and proof of address online, leading to speedier mortgage offers.Woolwich intermediary business director David Finlay says: “This strengthens our promise to the intermediary […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com