Barriers to exit - platforms refusing to convert funds

Hi all, a question about platforms that make re-registering away impossible by using super clean share classes and then refusing to convert to suitable alternatives. I've not dealt with this particular platform much before (not naming them just yet!) and with the property fund suspensions on top this has brought the problem really to the fore. What do people do in this situation? It seems to go against the FCA's view point that clients shouldn't face barriers to transfer?


  • Hi Jamie,

    Agree it is a pain.

    Some platforms are able to temporarily hold the super clean share class for receipt of an in-specie transfer and then immediately convert. They can’t hold very long though and can only do it for transfer purposes.

    Alternatively, if the platform you are using can’t accept you will have to sell to cash and transfer that way.

    Restricted assets are a whole other pain though....

    I believe it is on the FCA’s radar, but no easy solutions sometimes and it can indeed be a barrier to transfer. You can only really check the position before you start a recommendation so at least you are properly informed of any potential issues.
  • Thanks @Calvert76 . In this case it was a model portfolio with the property funds wrapped up within it and otherwise we would have simply cash transferred. The question about temporary super clean holding is with the new platform so fingers are crossed!

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