Mike Kellard, chief executive of AXA Wealth, has called for the platform industry to embrace a fully transparent model.
Mr Kellard was responding to proposals from the Financial Services Authority over a ban on platform legacy payments.
He said he felt the ban was a good idea and would create a "level playing field" for the sector.
"With the shift to clean share classes the industry should grasp this opportunity and move to a fully transparent model. If unit and cash rebates are to be removed then this should also apply to all legacy agreements. This will provide a level playing field for the whole industry."
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He disagreed with suggestions that an outright ban would affect the competiveness of the platform market.
Mr Kellard said: "We are not sure this is the case. I think it will mean that competitive forces work better across the market and funds will need to compete with each other and price competitiveness in the round will form a key part of this."
For AXA Wealth, a corporate member of the Institute of Financial Planning, the impact of losing rebates would be "minimal" as most of its platform business was already written on an explicit charging structure.
There are 1,600 clean share classes on the Elevate platform and Mr Kellard said this was the "most transparent" way of doing platform business.

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