View more on these topics

Skandia pulls out of multi-bonds and CI in RDR move

Skandia is to stop offering multi-bond and critical-illness policies from the end of September.

The firm says the move is part of a strategy to move away from its older-style policies and focus on its platform in order to prepare for the retail distribution review.

Existing customers will still be able to top up their investments in line with their policy terms and conditions.

Skandia has written to advisers explaining the changes and says it is working with IFAs to prepare them for the move.

The maximum investment plan, the Skandia plan and other life cover products, including level term, rolling term, and guaranteed whole of life all remain open. The company’s unit-linked pension range remains open for fee-based sales but will be kept under review.

Skandia UK chief executive Peter Mann says: “Our experience shows that financial advisers are already moving towards fee-based advice models in response to customer demand and the RDR will accelerate this change.

“To meet this evolution, we are determined to have one clear and simple proposition for customers so are focusing on the development of our Skandia Investment Solutions platform.”

Highclere Financial Services partner Alan Lakey says: “Sadly, this is yet one more symptom of the consolidation which is being hastened by the RDR proposals. How many providers will there be in 2015?”



Do we need an alternative to exams?

One day a word is used rarely, then it gets used to excess. The retail distribution review has led to two such words falling under this heading – “alternative” and “proposition”.


Former director of Imperial Consolidated jailed for fraud

A former director of an investment firm, Imperial Consolidated Group, which managed over £250m of investors’ funds has been jailed for three and a half years for his part in a global fraud. William Godley, who admitted his involvement was sentenced at Blackfriars Crown Court today. At one stage during the fraud Godley was paying […]

Pensions Regulator hires NAPF director of policy

The Pensions Regulator has appointed National Association of Pension Funds director of policy Nigel Peaple as head of corporate and international affairs. Peaple and his team will be responsible for TPR’s media, external stakeholder and EU relations. Prior to his role at the NAPF, Peaple held policy and public affairs roles across a range of […]

A tough start for 2017 consensus trades

By Kacper Brzezniak Every year, starting around November, investment banks (and fund managers) begin to drip out their outlooks for currencies, rates, economies, you name it, for the following year. The consensus has been largely wrong for the past four or five years; those multiple rate hikes never came, the bond market is still alive […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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