Platforms are eyeing the next wave of bulk conversions to clean share classes after the FCA issued final guidance last month.
The regulator issued draft guidance last October but did not finalise the rules until May.
The regulator’s rules say conversions must be in the best interests of clients.
Aviva says only 1,164 of the 1,725 funds on its platform can be converted. A total of 389 funds have a higher ongoing charge or annual management charge than the clean share class while other funds have not launched a clean share class alternative.
Nucleus communications director Garry Mcluckie says: “We will not put clients in a worse position so there are a few discussions going on.”