Old Mutual Wealth: How we are handling the sunset clause challenge

Old Mutual Wealth's investment platform expert Mike Barrett (pictured) explains the thinking behind the group's plan to bulk-convert clients to unbundled share classes in 2015.

The sunset clause is an issue which we know has caused concern for lots of advisers. As the trade press and others have highlighted, it creates a challenge to adviser and platform remuneration. Let us be honest here, as a platform service provider, it is our old business model that is being banned. Technically, commission is not, but the reality is that by removing the rebate revenue that was used to fund commission, the sunset clause will mean platform commission will end in the run up to April 2016. We recognised early on that we had to take the time to work with advisers and formul...