Terry Huddart of Nucleus dismisses trail commission fears on platform-to-platform re-registration.
With paper PS12/3 (Adviser charging – treatment of legacy assets), the FSA has made further clarification of the rules relating to re-registration of legacy assets. This has muddied the waters for legacy providers, with some stating that the rules will hamper platform-to-platform re-registration. The concerns have been around re-registration of assets from one platform to another with no change in investment or fund – and whether it constitutes advice. When such transactions take place in 2013 they will not fall under the new adviser charging regime, meaning existing trail commission cou...
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