DFMs sceptical over Skandia panel pricing claim

Last week, Old Mutual Wealth CEO Paul Feeney said the firm's Select range, that offers around 50 funds from 12 managers, would challenge DFMs with "prices they cannot match". "It will put us in competition, on our terms, with private client wealth managers," he said. But Richard Leigh (pictured), founder of wealth manager London & Capital (L&C), said it was unlikely Select would be able to compete with its DFM offering, priced at 25bps plus VAT. "[New entrants] try to grab market share by reducing costs and then, when they grab market share, they will start to put the prices [back]...