AJ Bell will bulk-convert holdings on its platform into clean share classes in Q4 this year..
Other platforms are in the process of bulk converting while some currently only support client-led conversions.
From 6 April AJ Bell’s platform research tool will support data for around 4,000 funds, of which 3,000 will be clean and the remaining 1,000 will be bundled funds.
Rebates on bundled funds will be passed to clients in units every six months. Where the client no longer has a holding in that fund the rebate will be delivered in cash.
Sippcentre will also support investments in other funds and share classes through its stockbroking arm.
AJ Bell marketing director Billy Mackay says: “In reviewing Sippcentre’s funds and shares service fund range we looked to identify a comprehensive range of funds with a focus on providing access to the share class with the best possible underlying price available to us.
“In doing this, we have been able to ensure that we continue to provide access to an extensive range of funds at the best terms we can get.”