Skandia: Cash rebate ban a 'blow' to wraps

clock

Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.

In this morning's consultation paper, the watchdog confirmed its intention to ban cash rebates - payments from product providers to consumers via platform cash accounts. Unit rebates used to pur...

To continue reading this article...

Join Professional Adviser

 

  • 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

Libby Roy, incoming CEO of Bravura Solutions

Bravura names Libby Roy next CEO

Effective from 22 August 2022

clock 23 June 2022 • 2 min read
Mark Kiddell, chief commercial officer, Wealth Wizards, said: "Having control over our finances and a clear plan to achieve our financial goals is essential for financial wellbeing and has a direct correlation with our mental and physical wellbeing."

Wealth Wizards launches self-service guidance software

Royal London among users

clock 21 June 2022 • 2 min read
Male paraplanners twice as likely to want to be an adviser than females - Quilter

Male paraplanners twice as likely to want to be an adviser than females - Quilter

‘Time to break the vicious cycle’

clock 31 May 2022 • 3 min read