The Selestia and Skandia platforms have now been rebranded as Skandia Investment Solutions, two years after their integration, but there is no end in sight for the full migration of billions of pounds of MultiFunds legacy business.
Originally, Skandia hoped all Multifunds business would be ready to be transfered following the integration of the Skandia and Selestia platforms, which relaunched on 15 August 2007. The merger followed the purchase of Skandia by Selestia’s parent Old Mutual in early 2006. This transfer date was deferred with Skandia then hoping to move the accounts across by 25 February 2008. However, the scale and complexity of the migration meant more time was needed. In July last year, Skandia admitted to IFAonline that the migration had taken longer than originally expected with Skandia CEO Nic...
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