Research and consultancy firm AdviserAsset has launched an online comparison tool which provides advisers with a breakdown of a platform's share class options.
The share class analysis tool provides advisers with an overview of a platform's share classes in order to determine whether a move to 'clean' funds is in the best interests of clients.
The Financial Conduct Authority (FCA) recently warned that it would not expect clean share class conversions to take place if a client is "in any way disadvantaged".
The share class analysis tool provides advisers with a comparative gross and net total expense ratio (TER) and ongoing charge figure (OCF), including or excluding an allowance for tax, on investment portfolios.
AdviserAsset director Colin Turton said the purpose of the tool is to ask whether the client is in the right share class.
He said: "If the regulator says advisers need to consider if a client is disadvantaged on conversion, surely this thinking can be extended to consider whether the client is disadvantaged where they are?
"Whatever an adviser does at this point needs to be a conscious decision, even if the answer is to do nothing for now. People need to tread incredibly carefully."
The FCA has said it expects that, in most cases, clean unit class funds would be "exactly the same" as their pre-RDR equivalents, except in price due to the reduced annual management charge.
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