View the article online at http://citywire.co.uk/wealth-manager/article/a636889
Trail removal ‘will hit Brewin Dolphin hardest’ post-RDR
by Emma Dunkley on Nov 26, 2012 at 07:00
‘The biggest issue in terms of what’s going on is whether clients will continue to buy the same products that they were,’ Cazier added.
‘What’s likely to be the case is no one will be excitable about paying more or less for an actively managed UK fund – it’s whether you should buy the UK fund, or a tracker.
‘So there will be pricing pressure over which products are going to be bought rather than whether they have clean prices.’
In terms of the switch from commission to fees, it will be a big issue for platforms, said Cazier, adding it is the single most costly systems item.
‘The biggest issue as an asset manager is the massive amount of time and effort in preparing for RDR – it’s a massive divergence of energy.’
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