Wednesday, 08 August 2012 09:20
Skandia developing RDR-ready product range, suitable for restricted advisers
Skandia is developing a new range of RDR-ready products for advisers, according to its half-yearly results released today.
It is already in discussion with high quality asset managers to develop the range and said it would be especially attractive to restricted advisers.
The results read: "The new fund range will cover all asset classes, be highly competitive on cost and will include the best fund managers in the market.
"It will enable any financial adviser to design their own model portfolio service for their customers and will be particularly attractive to restricted financial advisers post-RDR."
The firm said it expected to see demand from customers and advisers post-RDR for packaged investment solutions and simple access to open architecture investment ranges.
Paul Feeney, chief executive of Old Mutual Wealth Management, said: "Market conditions are undoubtedly challenging for the financial services market but I believe there are significant opportunities to focus on.
"The RDR is naturally key for us and we see a significant opportunity to build new, customer focused investment solutions that will be in demand post-RDR for all types of financial adviser.
"There will always be a place for open architecture but risk targeted funds, income solutions, model portfolios and DFM services will also be in high demand post-RDR and our asset management strength combined with our platform distributions position us ideally to deliver these."
Skandia's parent company Old Mutual Wealth Management announced operating profits were down from £99m to £95m. Gross inflows were £5.6bn while funds under management were £65.6bn.
Old Mutual comprises Skandia UK, Skandia International and the newly-merged Old Mutual Asset Managers UK and Skandia Investment Group.
It is already in discussion with high quality asset managers to develop the range and said it would be especially attractive to restricted advisers.
The results read: "The new fund range will cover all asset classes, be highly competitive on cost and will include the best fund managers in the market.
"It will enable any financial adviser to design their own model portfolio service for their customers and will be particularly attractive to restricted financial advisers post-RDR."
The firm said it expected to see demand from customers and advisers post-RDR for packaged investment solutions and simple access to open architecture investment ranges.
Paul Feeney, chief executive of Old Mutual Wealth Management, said: "Market conditions are undoubtedly challenging for the financial services market but I believe there are significant opportunities to focus on.
"The RDR is naturally key for us and we see a significant opportunity to build new, customer focused investment solutions that will be in demand post-RDR for all types of financial adviser.
"There will always be a place for open architecture but risk targeted funds, income solutions, model portfolios and DFM services will also be in high demand post-RDR and our asset management strength combined with our platform distributions position us ideally to deliver these."
Skandia's parent company Old Mutual Wealth Management announced operating profits were down from £99m to £95m. Gross inflows were £5.6bn while funds under management were £65.6bn.
Old Mutual comprises Skandia UK, Skandia International and the newly-merged Old Mutual Asset Managers UK and Skandia Investment Group.
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