Platforms may be forced to abandon plans for ‘super-clean' share classes as the number of firms demanding the special terms continues to rise, according to a consultant.
Cofunds has joined Skandia, Standard Life and Axa Elevate in lobbying fund managers for "super clean" share classes.
Axa Elevate has questioned the decision by a number of major platforms to eschew clean share classes, despite increasing Financial Services Authority (FSA) action against rebates.
Axa Wealth has reported significant growth on its Elevate platform, with assets up 51% from £3.5bn to £5.3bn.
Cofunds has extended its lead as the UK's largest platform, with assets rising to £45bn, according to the Platforum's latest pricing guide.
Axa is to continue to offer its Elevate platform at a discount in order to entice advisers into its Architas fund range, albeit at a reduced rate.
Growth on its Elevate platform and within the Architas investment division helped Axa Wealth boost its assets under management (AUM) by 15% year-on-year in Q3.
Axa has finalised its adviser charging structure on the Elevate platform, with five different ways to charge clients, including an ad hoc payment option.