Standard Life

Are advisers better off leaving fund share class conversions to platforms (as some have suggested), or should they carry it out themselves?

Standard Life has agreed discounted ‘super clean' share class deals with seven fund groups - including Cazenove, Schroders and Threadneedle - with a further four set to be announced by the end of October.

Standard Life has so far only managed to secure super clean share classes from 11 of the 15 fund groups it originally said it had agreed terms with, IFAonline's sister title Investment Week understands.

The majority of savers under the age of 45 are unaware of the amount of income they can expect from their pensions when they retire, according to Standard Life.

Insurers have welcomed the Office of Fair Trading's (OFT) recommendation to introduce independent governance committees for contract schemes.

M&G Global Dividend was the best-selling fund on Cofunds in August, while Mixed Investment 20-60% Shares retained its position as the most popular sector for the eighth consecutive month.

The introduction of super clean share classes will be a short-lived arrangement but one that still has the potential to drive platform consolidation, says UBS Wealth Management executive director Graeme Price.

Five firms have been named on the shortlist for the Best Platform for Adviser Service gong at next month's Aberdeen UK Platform Awards.

DRAWDOWN

Retirement Planner's round-up of the top pension stories this week.