Wrap and pension provider James Hay Partnership has said advisers and clients will have access to both bundled and clean share class funds in the lead up to 2016, depending on the cheapest total expense ratio (TER).
Advisers and clients will be able to 'mix and match' based on their needs in the time remaining before the 2016 deadline, when the Financial Conduct Authority's (FCA) requires platforms to have moved onto a fee-based charging model. Bundled funds will be retained by James Hay if the TER on the clean equivalent is not less than or equal to it. As much as 30% of recently launched clean funds are more expensive than bundled by an average of 10bps, according to the provider. In some instances the rebate share class has matched ‘super clean' levels. James Hay Partnership chief execut...
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