A number of wealth managers have privately warned fund groups they will be less inclined to recommend funds which give preferential prices to the biggest distributors in the market, Investment Week understands.
Some large wealth managers have told fund providers they will not actively channel money into popular funds if they are unable to secure the same ‘super clean' share class terms as their competitors, according to multiple sources. The race to secure the best priced share classes intensified earlier this month when Standard Life became the first platform to secure super clean deals. The platform said 15 major fund groups have agreed to give it an average discount of 9bps, which prices an equity fund at around 66bps. Competition Hargreaves Lansdown has also called on fund managemen...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
