Major asset managers have moved to reassure advisers that they will receive trail payments on time, following a three-week delay to some payments announced by Henderson this week.
Companies including Aberdeen, Threadneedle, BlackRock and Fidelity have all said they do not expect any delays to future payments of trail commission to advisers.
Earlier this week Henderson confirmed a delay of up to three weeks on a scheduled £4m payment to 7,000 advisers, which the group blamed on a review of its business to ensure compliance with the RDR.
But several other groups have told Investment Adviser that they conducted full reviews of their adviser clients before the introduction of the RDR on December 31.
A spokesperson for Scottish Widows Investment Partnership said: “Swip has controls in place to ensure any legacy rebates are in line with distribution agreements with [distributors]. These distribution agreements contain clear guidelines with regard to the applicability, responsibility and treatment of trail commission payments.”
Meanwhile, BlackRock agreed new terms of business with advisers in August 2012 to ensure all those affected by the new rules were treated appropriately.
A spokesperson for Royal London Asset Management said: “We recognise that the post-RDR environment presents significant operational and technical complexities and we have therefore sought to design our procedures and controls accordingly.
“As part of this, we have systems in place to ensure the timely and accurate payment of trail commission to eligible advisers and no payments have been delayed.”
Commission payments to advisers have been banned on new investments since December 31 2012. Investments opened before that date can continue to pay trail until fresh advice is given to change them.
