Advisers using FundsNetwork may convert clients to funds' clean share classes en masse from January 2015, the platform has said.
The platform will offer advisers the chance to 'bulk convert' client assets across their fund holdings in ISA and investment fund accounts from January, it said today.
FundsNetwork said advisers have until 5 December to identify accounts they wish to convert, contact clients and seek their approval.
In addition, it will provide firms with a detailed guide of the options available for transition to clean share classes, as well as a timeline of events leading up to the Financial Conduct Authority's deadline of April 2016.
It will also provide a cost comparison report to show individual client charges pre and post-conversion process.
Firms do not have to take up this offer, as FundsNetwork will convert any remaining bundled assets held on the platform to clean share classes prior to the regulatory deadline of April 2016. That conversion would take place at some point after December 2015, it said today.
FundsNetwork's head of advisory services Jon Everill (pictured) said the bulk conversion option is a response to adviser demand: "This new option provides even more choices for advisers to use with their clients in the run up to the April 2016 deadline."
