Skandia swipes at wraps' adviser charging claims

The Old Mutual-owned platform has identified what it considers a host of dangers arising from the way wraps implement adviser charging - including inappropriate use of cash accounts and non-compliant fee forms. According to Skandia, there may be instances where it is beneficial for the customer to pay adviser charges from the packaged product rather than a cash account, such as when charges are taken out of a pension and subsequently gain tax relief. It also warned fee forms which simply show consent for payments to be made to advisers will not necessarily be compliant with adviser ch...