Skandia Investment Platform plans to review some of its investor communications after IFA concerns clients may mistakenly believe all of their transactions are checked by them.
A line in letters Skandia sends to investors who have moved money in or out of funds themselves, states, ‘Your adviser can access this document'. Details of every client transaction are available to advisers at Skandia's online library. But currently no copy of the client letter is sent to advisers to notify them a non-advised transaction has been authorised. Some advisers are concerned this could lead clients to wrongly believe the transaction has occurred in the full knowledge of their adviser. They argue this could raise future problems if, for example, a client assumes Skand...
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