Advisers back unit rebates through platforms

A survey by the platform polling 1,700 advisers in Q2 found 52% think rebates should be passed back to consumers in the form of additional units into their investments - rather than cash paid into their cash accounts. In its recent platform policy paper, the FSA said it will delay a ban on cash rebates - originally proposed in its November consultation paper - pending more research. A ban on cash rebates means platforms will either have to rebate in the form of additional units or, alternatively, the onus could fall on fund managers to create new share classes with lower AMCs. The ...