Skandia’s unbundled proposition and bundled adviser charging structure have gone live today.
The platform revealed its unbundled charging structure in August. It sees the platform operate a tiered structure ranging from 0.5 per cent to 0.15 per cent.
Investors with assets worth up to £25,000 will be charged 0.5 per cent, between £25,001 and £100,000 0.35 per cent, between £100,001 and £500,000 0.3 per cent, between £500,001 and £1m 0.25 per cent and over £1m 0.15 per cent.
The adviser charging option on its bundled structure is only available to existing advisers, while all new customers will go onto the unbundled proposition.
Skandia UK managing director Peter Mann says: “Today is a significant day for Skandia. The deployment of the new proposition has been the subject of careful planning, and puts clear blue water between us and some of our competitors. A deployment of this size will understandably take time to bed down, and our focus now is on helping advisers through this transition phase.”