From 2013, Ascentric, which is a sponsor of the Institute of Financial Planning, will operate exclusively on an adviser charging basis which will simplify the way charging is applied on the platform. Previously, it has also been able to offer advisers the option of taking trail commission from a fund manager although it said not many advisers chose this option.
Client authority will be required for all adviser charges where changes are required to an existing charge set-up.

Platform and product charges will be clearly distinguished from adviser charges and Ascentric will ensure clients can view any charge deducted from their accounts.
It will not be applying any maximum limits on adviser charges leaving advisers to determine a charge that is reasonable for their clients.
Mike Morrow, Ascentric's sales and marketing director, said: "Our main priority has been to conform to the RDR requirements while limiting where possible the impact of any change on our advisers and their clients.
"The reality is that RDR has not had a significant impact on the business with efforts predominantly focused on strengthening our core processes and, where necessary, introducing functionality to ensure compliance with pre-validations.
Ascentric has written to all its advisers to notify them of the changes and set out a timetable for further communication and implementation.