The Tax Incentivised Savings Association (Tisa) is to launch a consultation later this month to look into how to convert bundled share classes held on one platform into clean share classes on another platform when a client re-registers.
Currently, when a client with investments in bundled share classes wants to switch platforms, they first re-register to the new platform into bundled share classes, and are then converted into clean share classes. However, Investment Week can reveal that following talks with members, Tisa is planning to launch a project later this month which would allow a client to convert to clean share classes automatically when they move across to another platform. Tisa's technical director Jeffrey Mushens said: "We have discussed this and we have had a lot of interest from some members on this. ...
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