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Skandia scraps Selestia brand

Skandia is to axe the Selestia brand and develop the platform into a full wealth management wrap under the banner Skandia Investment Solutions.

The company has not revealed a timeframe for the changes but says the decision to ditch the Selestia brand was the result of adviser feedback.

Skandia Investment Solutions will sit alongside the Skandia Life platform which will continue to offer open-architecture life and pension products.

Advisers will be able to use a white-labelled version of the platform with their own branding and it will offer two different charging and remuneration options.

Skandia chief executive
 Nick Poyntz-Wright says: “Investment platforms will play an increasingly important role within the industry and we are committed to developing our proposition in line with the needs of financial advisers and their clients.”

Capital Asset Management managing director Alan Smith says: “The Skandia brand has a stronger presence than Selestia. It will make it less confusing for consumers who have to try and understand who they are dealing with but I do not think it will make a difference for advisers.”

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