Geoff Wilson, founder of Wilson Asset Management (International) Ltd. that manages $305 million in three funds listed on the Australian Securities Exchange, says the expected end of financial planner commissions will prompt more investment in listed funds and exchange traded funds.

“Historically, financial adviser fees were an incentive to invest in managed funds,” says Wilson. “The process that ends fees creates a level playing field for listed investment companies and managed funds.”

Wilson says Morningstar has started to research and rate listed funds prompting others to follow, sparking more interest in funds such as his. Morningstar asked for Wilson’s performance data a year ago.

Australia has 59 listed investment companies with a market value of about $19 billion. The U.K. has about 400 listed investment trusts that have a market value of $99 billion.

“New listings in Australia are two years away,” says Wilson.

The companies in Wilson’s stable include three listed companies, WAM Capital, WAM Research and WAM Active. The oldest is 13 years old. Wilson Asset Management employs 8 people.

Wilson, 53, has worked for 31 years as a fund manager, analyst and broker including two years in New York during the height of the 1980s bubble. He tells shareholders he plans to retire at 80.