Skandia: Wraps face 'severe challenges' this year

According to the company, the most significant driver of change will be the FSA's final decision on platform rebates. It said if the watchdog bans cash rebates, wrap propositions will be in for a testing time. "Most wrap business models rely on cash rebates and if these are banned their model has to change,"said Skandia marketing director Nick Dixon. "Many wraps seem to be focusing on getting the FSA to change its mind rather than on building a solution." He added it was "odd" some wraps assume it will be business as usual for them post RDR. "The RDR is important but it is the F...