Skandia is to roll out its fund supermarket white-labelling service from September, writes James Phi...
Skandia is to roll out its fund supermarket white-labelling service from September, writes James Phillipps.
The service, which is free for brokers, will be piloted by a sample of intermediary companies from the end of the week. Intermediaries already signed up to the Skandia extranet will be able to download the white-labelled service and customise it to incorporate their own branding and colour schemes.
Intermediaries can choose which funds they want to make available from the 230 funds Skandia offers links to and these can be offered unwrapped or through Peps and Isas. Intermediaries can also construct and save model portfolios.
The application process culminates in a downloadable PDF paper form which clients will need to sign. The commission structure for intermediaries will be the same as for Skandia's Multifunds offering.
Peps have up to a 3.5% initial charge, all of which the intermediary can take as commission, while Isas have a 4.5% initial charge, 3.5% of which can be taken as commission. Valuations and switching can be executed by either the intermediary or his client. Angus Duncan, head of investment sales at Skandia, said: 'It is vital a fund supermarket provider not only gives intermediaries transactional access to a good range of fund managers and funds but provides the tools to allow them to build and manage client portfolios.'
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