Skandia sounds adviser charging warning

clock

The divorcing of product and adviser charges must not result in higher overall costs for the consumer, warns Skandia.

The complete and overall cost to the consumer must be relayed in projections and key features documents, as well as details of the separate charges for the product and for the advice, it says. However, Skandia says it welcomes the principle of adviser charging - a key feature of the RDR which seeks to remove the possibility of product and provider bias from the advice process - saying it will go "a long way" to improving consumer perception of the financial services industry. It says a natural outcome of adviser charging will be that consumers will question how much they are paying fo...

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

Social media investment advice leaves investors out of pocket - research

Social media investment advice leaves investors out of pocket - research

Over half who acted on social media financial advice regretted it

Isabel Baxter
clock 21 August 2026 • 3 min read
New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

'Employers will be expected to take all reasonable steps'

Emily Bradshaw
clock 19 August 2026 • 4 min read
FCA: Top ten wealth management firms hold nearly 90% of all UK clients

FCA: Top ten wealth management firms hold nearly 90% of all UK clients

FCA Wealth Management Survey

Patrick Brusnahan
clock 18 August 2026 • 3 min read