Fund groups in talks with Skandia over Select pricing fears

Fund groups signed up to Skandia's WealthSelect proposition are holding further talks with the platform after it altered its pricing plans, sparking concerns over margins.

In 2012, the platform signed up ten groups to its WealthSelect proposition, including Artemis, Henderson and Schroders, securing preferential terms on over 20 external funds. The deals centred on Skandia’s ability to provide flows to the funds from both advisers and its life book in exchange for ‘super clean’ prices. Funds which made the list have been launched afresh on the platform as Old Mutual Global Investors’ funds, run by the external managers on a sub-advised mandate. To help promote the funds, Skandia – soon to rebrand as Old Mutual Wealth – originally intended to reduce i...