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Skandia to make platform compatible with CAR

Skandia has revealed it is changing the charging structure of its platform to make it more compatible customer agreed remuneration.

The changes are part of a number of enhancements that Skandia plans to make to its investment solutions platform over the next 18 months.

The initiative will be led by Neil Bage who has been appointed head of wealth management strategy.

As part of the developments Skandia will also be increasing the range of investment choice by improving the cash option and adding direct investments.

Skandia recently announced that its current investment solutions platform will be the basis for the long term development of full wrap and wealth management services.

Bage, who was previously UK business development manager at Skandia, will now be responsible for considering how investments will be managed in the future and how customer behaviour is likely to develop, in order to create a blue print for how Skandia needs to develop its platform to meet these needs.

Nick Poyntz-Wright says: “The result will be one platform, under the Skandia brand, that offers financial advisers a comprehensive range of services and tools that will enable them to cater for all types of client, from the mass affluent through to the ultra high net worth with in excess of £3m in liquid assets.

“Advisers will be able to pick and choose the services they use on the platform to fit the needs of each individual client.

He adds: “There will not be different platforms for different types of investor; it will be a consistent process for all clients.”

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