Aegon has said a drive to clean share classes represents the "only way forward" for an industry reeling from a proposal to replace cash rebates with unit rebates.
The provider, which launched its Aegon Retirement Choices (ARC) platform proposition last year, said the proposed unit rebate system "has no place in a post-RDR marketplace".
"This industry's system of pricing and rebates is anachronistic and has no place in a post-RDR, customer focussed marketplace. If we are to build consumer trust and confidence, we must fully embrace the principles of transparency," said platform disctribution director Lou Macari.
"When the regulator removed the option of paying cash rebates to customers, the end solution became clear - wash away all complexity and start focusing on the needs of customers.
"However, now we've found ourselves looking down the barrel of even greater confusion with unit rebates on some holdings and not on others; a rebate one month but not the next; the "loophole" of complex portfolios continuing to receive rebates; potential tax implications for our customers; and customer value and experience for execution-only different from advised.
"Frankly, that's just insane. Further complexity and opaqueness will only serve to diminish trust."
Moving to clean share classes was the only option for platforms, he added: "It would be great to see everyone picking a fund manager based on their experience and expertise and not the level of rebate."
Six hours for a client report
700,000 transfers in 12 months
104 delegates attended
'Benefit from healthy cash levels'
Could be two months to complete payment