Skandia fights back on re-registration

The platform says the hype surrounding free and easy asset transfers has clouded the dangers of advisers re-registering needlessly, without proper client consultation. Skandia says this could drive up costs, with its figures suggesting re-registering a client from a bundled charging platform to unbundled options could increase charges between 0.1% and 0.35% a year. It warns IFAs against viewing platform re-registration as a “light touch” process not requiring advice, as the functionality and cost differences between the propositions must be explained before any transfer takes place. The ...