Platform changes will lead to increased costs and confusion – Williams

Cofunds chief executive Brett Williams believes proposed changes to platform remuneration is likely to lead to increased costs and heightened adviser confusion.

Williams says he is not surprised by the FSA's indication it prefers to abolish fund manager rebates to platforms, but believes it will "almost certainly" drive up overall costs on products.

"This is what I thought they would do, but I do not think it is the right move," Williams says."It will lead to increased costs and just add confusion."

Williams is also disappointed the discussion period ends in just two months time.

"It is a major issue and it does not seem like a lot of time to fully discuss this and the other key points," Williams adds. "But we definitely will be responding to it."