View more on these topics

The transformation

Wrap services are changing the industry and we believe Skandia Wrap has been at the forefront of this development.

We realised a couple of years ago that to create long-term value within our business we needed to move away from a business model that relied so heavily on initial commission to a model that was more dependent on trail commission and fees.

This remuneration model better matches the type of advice that we provide to our clients which is primarily ongoing holistic financial planning rather than stand-alone product sales.

We now use our wrap service for practically everything we do. It has enabled us to grow our business efficiently and cost-effectively while providing a high-class service to our clients.

Our clients love it because it involves them in the process and makes our advice very transparent.

We monitor the markets constantly and the e-business tools on Skandia Wrap enable us to take immediate action when required. The 24 hour access and same-day switching are particularly strong features and we have used the bulk switching facility a few times to move large numbers of clients out of a particular market when appropriate.

Our clients are involved in the advice process because they can monitor their own portfolios online and see the value that our advice is adding. The portfolio review service also helps with our regular client review process and makes it easy for us to demonstrate how individual elements of a client’s portfolio are performing.

Using a wrap service has completely changed the way we do business. The interaction with our clients is much more dynamic and the wrap service enables us to meet their needs quickly, efficiently and cost-effectively.

For me, it has made the industry both more interesting and more satisfying to work in.

Peter Butcher is principal at Butcher & Moody Financial Services.


PFS asks members for views on wrap

The Personal Finance Society is to consult members on their use of wrap in the form of a short questionnaire with the results to be used in the PFS’s discussions with the FSA over wraps and platforms.

FSA turns to sub-prime and lifetime mortgages

The FSA will focus on sub-prime and lifetime loans in the second stage of its mortgage effectiveness review.The regulator says it is concentrating on specialised areas where the risk of consumer detriment may be high.It will also look at whether consumers are taking out suitable, good value mortgages and are treated fairly over the life […]

SPPM looks for Vietnam growth

Smith & Pinching Portfolio Management’s strategy of investing in funds that are not commonly supported by other multi-managers has prompted it to invest in a Vietnamese equity fund.


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