Old Mutual Wealth CEO Paul Feeney has dispelled worries about the effects of re-registration on the group's Skandia platform after it made a £2m profit, arguing rivals are behind the curve when it comes to facilitating electronic transfers.
The Skandia platform achieved an adjusted operating profit of £2m in 2012, with assets climbing 20% to total £22.6bn. However, on the downside, sales for the platform fell to £2.1bn last year from £2.8bn...
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