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Skandia wins battle of the supermarkets

Skandia&#39s fund supermarket is the most popular among IFAs, coming ahead of Fidelity&#39s Funds Network, Cofunds and Selestia, according to the State of the IFA Nation poll.

The survey found that 44 per cent of IFAs prefer Skandia compared with 29 per cent who opted for Funds Network and 26 per cent who chose Cofunds. Five per cent named Selestia, 2 per cent Transact and 1 per cent Sterling.

Skandia says the result is recognition of its position as the creator of the fund supermarket sector in 1994. It says it has proactively promoted itself to IFAs and developed a range of interactive tools to increase its market share to 10.6 per cent last year from 6.2 per cent in 1999.

Selestia says it is happy with its result, saying it shows what the fund supermarket has achieved in the 18 months since launch, and that its plan has always been to develop good relationships with a small number of IFAs rather than go for whole market coverage.

One Account head of marketing Scott Mowbray says: “I would say Skandia comes out top because it provides the most comprehensive range of fund information. It also provides a range of support services to enhance the service that IFAs provide to their clients. It is seen as the original and best among IFAs.”

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