Jupiter is looking to add renewal commission for intermediaries to its unit trust range outside Pep ...
Jupiter is looking to add renewal commission for intermediaries to its unit trust range outside Pep and Isa wrappers, writes Kira Nickerson.
Historically this has not been a large issue considering 75% of Jupiter's sales have been through Pep and Isas, Steve Glynn, joint managing director at Jupiter, said.
He added: "We have moved this higher up on our agenda of things we are looking at as demand for this has increased considerably but in the short term it is impossible to do."
Jupiter is in the process of changing its administration platform to a newer system, using the same provider EFDS.
The current system does not have the functionality to handle the addition of renewal commission options on unit trust purchases, Glynn said.
He added: "It will be six to nine months until our systems could handle this. Due to the volumes we receive it would be impossible to do manually without errors occurring."
For the short term, intermediaries looking to receive renewal commission on unit trust purchases of Jupiter funds can do so through Skandia.
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