Platforms will hold off cutting fees further until after they have dealt with significant changes to pricing structures in the first half of 2016, Standard Life's platform head has predicted.
The FCA's sunset clause means platforms have just over a year to move all assets to unbundled share classes. As a result, they must find a replacement for fund manager rebates on legacy business. From April 2016, clients must agree to a specific platform charge instead. For platforms, this means significant adjustments to their business models. Platforms first confronted the issue en masse earlier this year when the ban on fund manager rebates for new business kicked in. New pricing structures saw a number of platforms attempt to undercut rivals as they jostled for market share, bu...
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