Skandia MultiFunds' legacy business - billions of pounds accumulated over 20 years - is still not migrated onto the new Skandia Investment Solutions platform nearly a year after launch.
This is despite Skandia assuring advisers in September 2006 that "any existing plans held on the two platforms (Skandia MultiFunds and Selestia) will be seamlessly migrated onto the new platform when it launches". Statements on the group’s website now read: “Clients will be transferred over to the Selestia Investment Solutions investment platform on a date to be confirmed.” “The scale and complexity of moving the accounts onto the new investment platform is unprecedented in the UK," it continues. "We originally intended to move the accounts across on 25 February 2008, but we did not ...
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