Aberdeen looks at transfers

Professional Adviser
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Investment groups will be able to automate the transfer of fund-based renewal commission from one in...

Investment groups will be able to automate the transfer of fund-based renewal commission from one intermediary to another when a client moves adviser, writes Robert Stock. Jupiter and Dresdner are both examining the issue after Aberdeen said it would start transferring renewal from 1 October this year, where a client gives authorisation. This follows systems developments by external administrator International Financial Data Services (IFDS), which has just changed its name from EFDS. All three use the company. The move would bring them into line with groups such as Fidelity, JP Morgan...

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