Nucleus chief executive David Ferguson has criticised Skandia's plans to buy up restricted advice firms to increase distribution.
Last week, Skandia CEO Peter Mann said the firm wanted to become "a wealth manager", which could include a restricted fund panel. Speaking at the Platforum conference, Ferguson (pictured) said: "I want to give advisers more control rather than less. "At the other end of the spectrum, one legacy platform is seeking to knock together a restricted proposition which it can then pump out through what it calls ‘distributors'." "Why would a restricted adviser firm want to pass the commercial benefit of being restricted straight to a platform? I just don't get it." The current state of ...
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