The Skandia name is to disappear as the group rebrands as Old Mutual Wealth across all UK operations.
Skandia has u-turned on its decision to close the £640m Skandia Invesco Perpetual Income and High Income funds in favour of Neil Woodford's new Income fund at his own firm.
Skandia has handed a £640m life mandate currently run by Invesco Perpetual's Mark Barnett to Neil Woodford, in a move Hargreaves Lansdown analysts suggest may be the first of many.
Old Mutual Wealth's soon to be re-branded Skandia platform today reported profits had jumped 400% in the first half of 2014 to £10m, while assets in its recently-launched WealthSelect range hit £1bn.
Just under a fifth of advisory businesses have managed to transition all their clients to a pure adviser charging model, according to a 1,000-adviser survey.
Nearly two-thirds of advisers have seen an increase in business enquiries since sweeping changes to pensions were announced in the Budget, according to a survey by Skandia.
Platforms are racing to update their conversion programmes as advisers complain about hefty charges when switching clients into clean share classes.
Skandia shows its hand in fund group negotiations
Neil Woodford has been handed a mandate on Skandia's WealthSelect range, likely in the region of hundreds of millions of pounds, with the platform also getting access to the manager's 65bps share class.
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