Advisers told to fax requests after Skandia power cut

clock

A power cut at platform Skandia's London HQ meant advisers had to send client trade requests via fax on Thursday.

A major power output hit Skandia Investment Solutions' server on Thursday morning. It will be out of action until Friday. Skandia has set up a fax number for advisers to fax through trading instructions. "We are in the process of getting the system up and running again but it is important we do this in a controlled way," said a spokesperson. "We are doing everything we can to fix it." In terms of refunds to customers, Skandia added it was too early to comment but said the platform would look at the issue.  "Clearly, we understand it's frustrating for our customers and we apologi...

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 Wrap/platforms

How is tech changing platform asset migration?

How is tech changing platform asset migration?

'Every transfer should be compliant, transparent, and in the client's best interest'

Tom Mullaly
clock 17 November 2025 • 4 min read
P1 Platform halves drawdown fees to ease cost pressures on advisers

P1 Platform halves drawdown fees to ease cost pressures on advisers

Enabling firms to extend advice and investment services to a broader range of clients

Sahar Nazir
clock 11 November 2025 • 2 min read
Advised platform AUM tops £711bn in Q3 with new business hitting 'all-time highs'

Advised platform AUM tops £711bn in Q3 with new business hitting 'all-time highs'

Headed towards a ‘record-breaking year’

Jenna Brown
clock 06 November 2025 • 2 min read