The Tax Incentivised Savings Association (TISA) is set to launch its much-anticipated platform-to-platform re-registration programme in the next few weeks, ahead of the Retail Distribution Review (RDR) deadline.
The TISA Exchange (TeX) was established to facilitate electronic transfers of assets between platforms and fund managers. It aims to bring transfer times down to a maximum of 11 days, and in some cases as low as four days. TeX currently has 24 firms confirmed as members, including Fidelity, Cofunds and Schroders, with 22 currently in the application process. Together, they cover 62% of the industry's assets under management. Carol Knight, director of member services at TISA, said: "A lot of hard work and testing has taken place by many industry participants since TISA first began work...
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