Old Mutual Group company Skandia has been selected by Legal & General International (Ireland) and Suffolk Life as their new distribution partner, Investment Week reports. Under the agreement, customers intending to contribute to an International Portfolio Bond from L&G will now be able to hold and manage their investments on the Skandia Investment Solutions platform.
L&G Group’s self-invested personal pensions (SIPP) specialist unit Suffolk Life said its SmartSIPP also offers access to the Skandia platform. L&G ended a distribution contract with U.K. investment platform Cofunds in March for more options ahead of the Financial Services Authority’s Retail Distribution Review, slated for 2013.
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