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Skandia adds 40 staff in re-reg push

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Skandia has taken on 40 new staff in an effort to speed up its re-registration processes.

The platform says it has also put in place a number of other measures to aid re-reg including the simplification of application forms and a new online re-registration application system.

It says it is contacting other platforms it claims are failing to provide international securities identification numbers for investments which can lengthen the re-reg process.

Skandia says 40 per cent of its re-registrations are carried out electronically.

Skandia platform marketing manager Mike Barrett says: “The re-registration process is only ever as strong as the weakest link in the chain and as a consequence anyone who cannot support electronic re-registration is letting advisers and their customers down.

”We continue to lobby hard for other providers, fund managers and administrators to adopt the new technology for the benefit of all investors.”

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Comments

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

  1. All credit to Skandia for making the effort. Pity other platforms (particularly the bigger ones) don’t take heed. One gets the distinct impression that the ceding platform actually does what it can to hinder operations, but then it just might be that the culture of large life offices has permeated.

  2. I’d be impressed if this 40 strong team will deal with re-regs out, but experience tells me this recruitment drive is no different, Harry and they will just deal with the money coming in & drag their heels with money leaving.

  3. Robin Marshall 17th May 2013 at 8:13 am

    What a joke, Skandia have been nearly the worst in the industry for years.

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