Axa Elevate: platforms 'foolish' to shun clean share classes

The regulator's platform paper, due in less than a month, is expected to ban cash rebates, as well as the possibility of leaving unit rebates open to taxation from HM Revenue & Customs. A number of platforms, most notably Skandia and Standard Life, are yet to launch clean share classes, remaining sceptical over price and popularity with advisers. Others, including Fidelity FundsNetwork, are trialling a limited range. "It would be foolish to not have clean share classes on the platform given what could happen on the next two to three years," said Axa Elevate managing director David Tho...