UK sales growth “may be constrained” warns Skandia parent

Old Mutual, the parent company of platform Skandia, has warned that sales growth through its UK platform may be constrained during 2012.

The parent warned that the lead up to the implementation of the retail distribution review (RDR) and investor uncertainty could impact sales.

It warns: “Taxation uncertainty and regulatory delays may impede our ability to act as swiftly as we wish but we are confident that reform will be implemented in line with expectations.”

Skandia says it is “excited about the opportunities” the implementation of the RDR will bring about. (article continues below)

It says it sees growth areas in increasing decumulation, alternative investment and passive investments and working with independent financial advisers to provide access to the platform for their customers.

The platform is also “actively developing new protection and asset management products in anticipation of the new market structures”.

It claims the RDR will also accelerate the run-off of its “more profitable legacy platform”.

The platform says Skandia International is developing a wealth management service to be known as “Wealth Interactive” which will be RDR-compliant for UK investors.