Skandia UK toasts profits jump

Gross sales last year were £8.6bn, while funds under management rose 16pc to £41.9bn. Nick Poyntz-Wright, chief executive of Skandia UK and Offshore, said: "We remain solely committed to the financial adviser channel and we believe this is the key to the business success we achieved last year. "The industry is changing and the Retail Distribution Review is likely to accelerate this change, but we believe financial advisers will remain the dominant distribution channel. "The key focus for Skandia is to deliver products and services that enable advisers to meet the changing needs of the...