Aegon has said a drive to clean share classes represents the "only way forward" for an industry reeling from a proposal to replace cash rebates with unit rebates.
The provider, which launched its Aegon Retirement Choices (ARC) platform proposition last year, said the proposed unit rebate system "has no place in a post-RDR marketplace". "This industry's system of pricing and rebates is anachronistic and has no place in a post-RDR, customer focussed marketplace. If we are to build consumer trust and confidence, we must fully embrace the principles of transparency," said platform disctribution director Lou Macari. "When the regulator removed the option of paying cash rebates to customers, the end solution became clear - wash away all complexity an...
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