Platform charge disclosure regime 'misleads' clients - Skandia

clock

Skandia has called for the inclusion of ongoing transaction charges such as fund switches in the platform disclosure regime to stop clients being misled.

In its response to the FSA’s platform discussion paper, Skandia says the current disclosure regime focuses on charges at the point of sale and does not cover the entire range of consumer charges – such as fund switches. It also says firms should not be permitted to refer to annual management charges without referencing the higher total expense ratio (TER) amount. Skandia says the lack of standardisation can confuse advisers and clients, especially as switch charges appear insignificant. Its figures show for a £100,000 portfolio, of which a third of the funds are being switched each ye...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

News editor's view: 40s are the new 50s - a move in the right direction? 

News editor's view: 40s are the new 50s - a move in the right direction? 

The news editor's Friday Night Takeaway from 1 May

Isabel Baxter
clock 01 May 2026 • 3 min read
Feel Good Friday: FOS chooses Dementia UK as charity partner

Feel Good Friday: FOS chooses Dementia UK as charity partner

Will support Dementia UK over the next two years

Professional Adviser
clock 01 May 2026 • 1 min read
Why 50:50 parenting doesn't necessarily mean no child maintenance

Why 50:50 parenting doesn't necessarily mean no child maintenance

'In many cases, one parent will meet a greater share of the children’s financial needs'

Clizia Motterle
clock 01 May 2026 • 4 min read