Platform rebates were at the top of the agenda when IFAonline interviewed Skandia chief executive Peter Mann live on Twitter this afternoon.
Here's how the conversation went:
A (Peter Mann): Rebates typically only part of remuneration, clients should have the full story. They'll have this when we unbundle.
A: Well in advance of the current Dec 2012 deadline.
A: We believe IFAs are happy with the pricing of our product, otherwise we wouldn't have the largest platform in the UK.
A: Because they are fairer to the customer who primarily uses a platform to invest in funds not cash.
A: It does create some planning issues. We continue to build our offering based on what we believe is right for customers.
A: Yes, as long as the platform meets the needs of each customer.
A: For some platforms it's not, especially if they continue their suicidal pricing strategy or sub-scale asset acquisition.
A: Customer needs should define platform usage rather than the regulator. The strong will survive, the weak won't. #Darwin
A: We have no immediate plans for that.
A: It's more important to have the right number to ensure customers have appropriate access to professional advice.
A: Not as many as some estimate. The UK advice industry has remained remarkably resilient over many years.
A: RDR is a big challenge for us all. The companies with integrity and scale will get there.
A: Management of debt? On platform protection? What does everyone else think?
A: There's an argument for some, but not for us. We're already in danger of regulating yesterday's market.
A: It's generally unhelpful but the essence of investment markets is that they are cyclical.
A: The customer.
A: Keeping an eye out for great shirts
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