Skandia scraps front end margin on platform

The only initial charge Skandia will levy is whatever commission the investor agrees with their adviser, so if an adviser reduces commission to zero then there is no initial charge. It will continue to charge an annual platform fee of £50 per client. The new charging structure will apply to new business, top ups and regular investments made by both existing and new investors. The charging structure for Skandia Life and Skandia MultiFunds business will remain the same. Currently the initial charge and maximum commission level vary by product wrapper. However, following the pricing change...