Platform war breaks out over charges

Skandia believes FundsNetwork, Cofunds and Transact wrap are taking “big business” on the charge. It says when these are combined with fund manager charges it is “virtually impossible” to disclose the full cost to clients at point of sale. Peter Jordan, Skandia proposition marketing head, says the absence of consolidated rules on switching charges leads to potential non-disclosure issues. He believes as some clients may not be aware of these charges, raising clear TCF concerns. “If they want to continue to enforce this charge they will need to make a better effort of disclosure,” Jordan ...