Barclays: platforms 'taking advantage' of RDR to boost prices

In a note commenting on the fortunes of leading asset managers, the bank said platforms had taken advantage of the Retail Distribution Review (RDR) to convert pricing models to increase charges for clients with investments of about £50,000. "We were surprised to see IFA platforms' new clean pricing to be somewhat more expensive than historical expectations of the 25bps," the note read. "We believe that this could be explained by some platforms taking advantage of the change to convert pricing more favourably. There is particular evidence of upwards pricing trends for smaller investors...