The platform already has over 2,000 clean share classes of which 1,500 were loaded this month. Novia also carries more than 300 fund groups.

A "clean share" is where no money rebated either to an advisor or the client after the initial investment has been made. Under the UK's new Retail Distribution Review regime, IFAs are banned from being paid commissions on fund sales.

“The rapid loading of clean share classes onto the Novia platform continues to be a seamless process, and we are still in the midst of completing this transition. We do expect to have a full suite of clean share classes to match our existing funds by the end of the summer, although of course we will continue to add them as they become available by the funds group. The provision of these additional classes I believe will help to facilitate much needed transparency and will help to dispel much of the smoke and mirrors sadly still in existence in the investment sphere,” said Richard Denning, operations director at Novia.