Ascentric outlaws legacy commission on platform

From 2013 the wrap will operate exclusively on an adviser charging basis, advisers were informed last week. The decision will have a "limited" effect on advisers, Ascentric said, because very few on the platform are still charging on a commission basis. Ascentric will also not be applying any maximum limits on adviser charges, leaving advisers to determine a charge with clients that "reasonably and fairly reflect the services they provide". Sales and marketing director Mike Morrow said: "Our main priority has been to conform to the RDR requirements while limiting where possible the...