A “significant part of the market” is resisting certain proposed Retail Distribution Review changes to platforms, according to a survey by Fidelity FundsNetwork, which found that 80 per cent of advisors believe bundled and unbundled platform pricing models should continue to co-exist after the regulatory overhaul.

The RDR is a programme of reforms by the Financial Services Authority, the UK regulator, to increase the independence and quality of financial advice. One part of the reform package is to make advisors more transparent about how they charge clients for services.

Furthermore, the research showed that 70 per cent of advisors judge the FSA’s proposals on unbundled and bundled pricing too prescriptive, believing that it should be in the advisors’ hands to make the decision around which model suits their clients best.

The research further showed that 38 per cent of the 350 UK advisors polled preferred bundled platform pricing as long as there would be full disclosure around any bias towards funds or providers and full disclosure of what the product provider is paying the platform.

With regards to the idea of banning rebates, two thirds of advisors said that they believed this would make the overall cost of investing more expensive.

“Our research with advisors suggests there is a significant part of the market who are resisting the proposed changes for platforms as part of RDR,” said Ed Dymott, head of UK Fund Partners at Fidelity International.

Dymott added that Fidelity believes that it is best for clients to have a model where unbundled and bundled pricing can co-exist, under the provision that there is a standard disclosure policy for all providers and platforms.

“Ultimately we believe that advisors must be able to determine the best pricing model for their customers,” he said.