Ten fund groups that signed up to Skandia’s WealthSelect proposition are currently in discussions over alteration of pricing plans.
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Skandia, which will be rebranded as Old Mutual Wealth soon, told the groups that it may cut the overall price of the WealthSelect funds to make them more attractive for customers, reported investmentweek.co.uk.
Skandia’s original plans to reduce its own platform fee were blocked by the regulator this year.
Skandia spokesperson told investmentweek.co.uk that the company will reveal pricing details in the first quarter of 2014.
"We are in the process of finalising the pricing of the WealthSelect proposition, including the prices of our funds and the associated managed portfolio service," the spokesperson added.
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By GlobalDataMeanwhile, the fund groups are concerned that any price variation at a retail level between WealthSelect and the open architecture platform may result in a shift into the lower priced mirror funds where they have taken a bigger hit to revenues, according to investmentweek.co.uk.
