Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.
Wrap platforms are potentially "misleading" advisers by claiming their cash accounts facilitate adviser charging, according to Skandia.
The Skandia CEO says although the term restricted advice carries negative connotations, it could be the predominant model of advice in five years' time.
The majority of advisers do not understand the structure of exchange traded funds (ETFs), research suggests.
PA's tech guru Mark Polson reviews Skandia's Appetite For Risk app.
Avisers can sign customers up to adviser charging (AC) via the Skandia Investment Solutions platform from today.
Ryan Hughes looks at the increasing use of model portfolios and risk-rated funds