Skandia quits ABI in RDR row

It argues the ABI’s proposed assisted purchase business model, which it says would sit alongside sales and advice, would “undermine” the financial advice arena. Skandia adds its business model is different from traditional life and pensions companies, arguing it now has a “lack of alignment” with other ABI members. However, the ABI has hit back, saying it is standing up for consumers by supporting the creation of new distribution models to meet their needs. Speaking at a seminar for financial advisers in Southampton, Skandia UK CEO Nick Poyntz-Wright says his firm can no longer affiliate...