The vast majority of advisers want to see uniformity in the terms used for fund share classes, and are prepared to pay more in return, research suggests.
A survey of 230 advisory firms in September showed 85% of advisers found the terminology relating to share classes challenging and demanded more consistency. The gradual introduction of different share classes over the past 12 months also had an impact on how advisers operate their model portfolios, insurer Zurich's survey found. Providers were forced to migrate share classes to 'clean' share classes following the Retail Distribution Review (RDR), which banned commission payments to advisers. However, migration has been slow, with some platforms blaming a lack of clarity from the r...
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