Deloitte warns on 'prohibitive' cost of developing new share classes

The recently confirmed ban on legacy commission post 2013, in addition to a likely ban on platform cash rebates, makes it imperative for fund managers to introduce RDR-compliant share classes with adviser commission and platform charges stripped out. But business advisory firm Deloitte has said the cost of developing new factory-gate share classes will be "prohibitive", citing the need to seed the new share classes, register the classes and publish a prospectus and key information documents.  "The costs could be prohibitive, particularly if repeated across a large number of retail fun...