SVM Asset Management is altering the pricing on its Oeic range, taking its commission up to 5.25%—the same as its funds’ initial charge.
The offer will run between October 1 and the publication of the Retail Distribution Review (RDR), for which there is no set date.
It allows advisers to rebate up to 5.25% of their commission to clients, or if they are remunerated on a fee basis they can choose not to take any commission and give their clients access to SVM’s funds with no initial charge. The range includes Continental Europe, UK Absolute Alpha, and Neil Veitch’s UK Opportunities fund.
Mark Noble, the head of retail sales and marketing, says the move is designed to give advisers flexibility around remuneration ahead of the RDR.
He says the Financial Services Authority’s review of the industry may mean commission is abolished in favour of fee-based advice, which would mean advisers have to agree with clients on the cost of their services upfront.
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