Kevin Okell: Will the platform industry miss its conversion kick after 1 February?

Simplification of transfers

clock • 2 min read

Platforms are playing 'dangerous waiting game' on conversions ahead of new rules which come into force on 1 February, writes Kevin Okell...

It's the final countdown for the financial services industry on transfers. As of 1 February, new rules introduced by the Financial Conduct Authority's (FCA) PS19-29 will come into force. The policy statement on "Making Transfers Simpler" introduces a package of rules that require platforms to: offer consumers the choice to transfer units in investment funds that are common to both platforms via an in-specie transfer request a conversion of unit classes, where this is necessary to enable an in-specie transfer to take place ensure that consumers moving onto a new platform are give...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Platform service improvement: Why the industry needs a collective voice

Platform service improvement: Why the industry needs a collective voice

'As long as transparency is voluntary, it will remain selective'

Steve Nelson
clock 06 January 2026 • 4 min read
7IM's Lancaster: 2026 the year the transformation 'rubber hits the road'

7IM's Lancaster: 2026 the year the transformation 'rubber hits the road'

MD updates on programme and developments

Jen Frost
clock 06 January 2026 • 5 min read
Platforms have claimed their place at the core of investing

Platforms have claimed their place at the core of investing

'Platforms have been firmly in the middle of this proliferation'

Mark Sanderson
clock 05 January 2026 • 4 min read