Skandia drops PriceWatch service

Skandia UK has this week dropped the price comparison service from its platform due diligence tool, Platformwatch.

The PriceWatch section was launched in February 2009 and then extended into a full analysis tool in March the same year.

The price comparison service has now been removed with Skandia blaming other platforms for making it too difficult to find pricing information.

A note on the platformwatch website says: “Unfortunately a number of platforms are unwilling to share their pricing information publicly. therefore, we have had to remove these sections from the tool.”

A Skandia spokesman says: “Despite wrap platforms in particular calling for transparency it is actually very difficult to get hold of their pricing data. In the past we have relied on financial advisers to give it to us and that is becoming more onerous. We have decided to stop doing it also because there are other comparison services out there.”