skandia pre-launches new adviser charging

Skandia has today launched its adviser charging system on the Skandia Investment Solutions platform, enabling advisers to sign their customers up “as and when they see them” ahead of RDR implementation.

skandia pre-launches new adviser charging

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The firm said it was also launching an aligned support programme for advisers to facilitate a seamless transition to its RDR-ready adviser charging model.

Forms to transition clients can be sent to Skandia immediately and the consenting customers will be moved to adviser charging on 31 December.

Its adviser charging system offers monetary or percentage options across four types of fee: initial, regular, switch and ad hoc.

Skandia said its existing charging structure would continue for in-force business and to help advisers understand both adviser charging and the new trail commission rules it has produced a guide.

This covers actions that will trigger adviser charging, practical advice on how to go about implementing adviser charging, considerations to help advisers ensure the best customer outcomes.

It is targeting the launch of a demo version of the new online process for the Skandia Investment Solutions platform for Q3 to ensure advisers fully understand how to do business with Skandia in a post-RDR environment.

Nick Dixon, Skandia’s marketing director, said: "Advisers can sign up their Skandia customers to adviser charging immediately, with Skandia’s flexible adviser charging system going live in Q4. Our support programme helps advisers align with the new rules early and protect their income.

"The move to adviser charging must align with four key principles and advisers should check whether their current arrangements with other platforms will be adequate post-RDR."
 

 

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