Feeney: I am sorry for Skandia admin problems post-RDR

Paul Feeney, chief executive of Skandia's parent company Old Mutual Wealth, has vowed to tackle a series of administration problems that have affected advisers since the start of the year.

Platform giant Skandia, alongside a number of competitors, has experienced teething problems following the switch to a commission-free world. Advisers have said they are facing problems including remuneration statements showing they are still getting paid commission, despite having asked to move to fees, as well as issues with new business online and fund switches. Graham Reeve, a chartered financial planner at Rational Finance, requested the platform pay the firm fees instead of commission ahead of the RDR deadline - an instruction he said was ignored. The way Rational Finance han...