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Product review: AdviserAsset share class comparison tool

Advice tool provider AdviserAsset has launched a share class comparison tool.

The tool has been developed in direct response to the FCA guidance consultation paper at the end of October on switching customers to ‘clean’ post-RDR unit classes.

Launched on 5 November, the tool has now been used by advisers analysing more than 2,000 investment portfolios.

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The FCA expects clean share classes to cost the same or less, but the tool will help advisers check if this is truly the case. AdviserAsset said the tool enables the analysis to be conducted quickly and easily, using data from investment portfolios that have already been set up in other tools.

AdviserAsset now has more than 14,000 advisers who can all access the tool, with more than £200bn under influence.


This new tool paves the way for advisers to clearly see the cost of the new ‘clean’ share classes.

It has been the topic of much discussion (see page 70) over the past few months, with many commentators stating clean share classes are not necessarily any cheaper. So this tool will end debate around the true cost of funds by comparing pre- and post-RDR share classes.

For the past few years, it seems there has been one regulatory change after another. Advisers have had enough to worry about recently, and the introduction of clean shares is adding to that burden. Getting hold of data relating to the funds, including charges, can be time consuming – particularly if advisers deal with model portfolios and there are numerous funds to check.

Having a tool to do the legwork for you can only ease the pressure and make life easier for advisers. Maybe now advisers can get back to doing what they are there to do: advise.

The tool will no doubt make it easier for advisers to see the real cost of funds and make sure they are getting the best for their clients. Not to mention it is free of charge for both advisers and their paraplanners.

It makes things simpler and is free. What’s not to like?