Skandia will give advisers until 2016 to convert ISA and collective investment account business on the platform into the unbundled model.
The platform has confirmed that advisers will have the duration of the sunset clause period between April 2014 and April 2016 to transition client holdings into its unbundled, fee based charging structure and has ruled out bulk conversions of assets. Skandia has additionally reassured advisers trail commission for pension and bond investors in its bundled platform pricing model can continue on undisturbed assets beyond 2016, since the accounts are administered by a life company and fall outside of the Financial Conduct Authority (FCA) platform rules relating to fund manager payments. ...
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