Skandia criticises industry efforts on re-reg

clock

Skandia has expressed frustration at rival platforms failing to allow electronic re-registration of assets, despite being required to do so under the Retail Distribution Review (RDR).

Aside from fellow giants Cofunds and Fidelity FundsNetwork, Skandia has been unable to complete transfers of assets with any other platforms, a situation managing director Peter Mann (pictured) called "frustrating". The FSA requires platforms to transfer assets in a "timely manner", generally accepted to be between five and eleven days depending on complexity. Most using manual processes were still taking three to four weeks, he said. "It is ironic that the large fund supermarkets, who have been heavily criticised by the wraps for not facilitating re-reg over the past few years, are n...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Platforms

Investment platform TILLIT closes down

Investment platform TILLIT closes down

Closure to take place on 12 September

Sorin Dojan
clock 25 June 2025 • 1 min read
Woodford to charge up to £70 a month to access portfolio platform

Woodford to charge up to £70 a month to access portfolio platform

W4.0 launches

Cristian Angeloni
clock 06 June 2025 • 2 min read
Woodford sets launch date for portfolio platform

Woodford sets launch date for portfolio platform

W4.0

Cristian Angeloni
clock 03 June 2025 • 1 min read
Trustpilot