Wrap/platforms

Skandia has sent its post-RDR platform live, after being unavailable for the last three days.

Skandia is planning to seed its new ‘Select' fund range with substantial institutional money from its life book in exchange for groups surrendering margin to join the exclusive panel of funds.

Skandia's multi-manager range is to compete on price with the directly-invested sector, as part of the group's plan to continue aggressive negotiation with fund managers.

AJ Bell has reported an increase in pre-tax profits of 39% to £26.5m, with assets under administration hitting £17.5bn for the year ended 30 September.

About 8% of clients on the Skandia platform are signed up for adviser charging ahead of the provider's 18 December launch of its Retail Distribution Review (RDR)-ready charging model.

CONTRARIAN INVESTOR

Barclays is closing Woolwich Plan Managers as it rolls out its structured investment products on third party platforms.

Novia has switched to its retail distribution review (RDR)-compliant model, effective immediately.

Skandia has agreed terms with Artemis and Invesco Perpetual to add its funds to its restricted panel launching next year.

Advisers will be unlikely to pay more than 30bps in platform charges next year, according to Fidelity FundsNetwork.