Skandia Investment Solutions, one of the UK's largest platforms, made a loss of £11m in 2011 as the cost of preparing for the Retail Distribution Review (RDR) impacted the business.
The Skandia label will disappear in the UK and a number of senior roles have been reshuffled as part of a major overhaul of the Old Mutual Wealth Management business.
The Skandia label could disappear in the UK as part of an overhaul by parent Old Mutual, which is rebranding its merged asset management businesses as Old Mutual Global Investors.
Skandia has developed an iPad version of its ‘appetite for risk' app which was released for the iPhone in April this year.
Back office provider IntelliFlo has appointed Dave Chessell as sales director.
Wraps are beating fund supermarkets in attracting new business despite Cofunds' jump to the top of the platform league tables, according to latest figures.
Skandia has said it will enable adviser charging on 90% of its life products with the main exceptions being the Maximum Investment Plan (MIP) and the Skandia Life Bond range.
Three ex-Honister providers will continue to accept bulk transfers despite MacRobin's assertion that there are legal and practical issues that should prevent them from doing so.