Moving to cleaner share classes makes things simpler for everyone – the adviser agrees a fee with the investor and the platform clearly states what the investor will be charged for the services provided. Importantly, applying discrete charges for each part of the value chain will go a long way to helping the value of professional financial advice get the recognition it deserves.
We have found that the cost of investing in 80 per cent of those clean share classes is exactly the same as it was for the old bundled fund. For a further 10 per cent it’s actually cheaper.
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Verona Smith is director of marketing at Cofunds
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