The reason for the 40% dip in net inflows onto Skandia’s platform in the first half of 2012 has been cited as the distraction of the RDR for advisers and challenging market conditions.
Skandia’s parent company Old Mutual’s interim results revealed that Skandia’s UK platform net client cash flow was GBP1.2 billion in H1, down from GBP2 billion during the same period in 2011.
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Meanwhile, total gross sales on the platform were at GBP2.2 billion, down from GBP2.8 billion in 2011.
Further, the total funds under management on the platform stood at GBP20.4 billion by the end of the H1, compared to GBP18.7 billion at the same point in 2011.
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