Fidelity will roll out commission-free share classes across an array of mainstream funds, FundWeb reports. It will introduce the new share classes before the implementation of the retail distribution review (RDR) of financial advice at the end of 2012.
The firm has already launched shares with a new 1% commission-free charge, or Y class, on funds targeting wealth managers. The new fee is lower than the present average charge on retail funds, including commission for advisers, which will be banned after the RDR becomes effective.
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