View more on these topics

Alliance Trust Savings looks to increase platform charges

Alliance Trust Savings is looking to increase the cost of its fixed price platform in order to reinvest in the business and offer additional services to advisers.

The platform says it is looking to add model portfolio and discretionary fund management capabilities to its service.

Alliance Trust Savings managing director Patrick Mill says it hopes to make a decision on the level of pricing increase over the next six months.

Mill says: “We do need to invest in the business. In the intermediary space we do not have everything and we are looking to add some further services such as model portfolios and discretionary fund management.

“We would need to look at our current charges to be able to invest and develop those services.”

Alliance Trust Savings is currently one of the few platforms which charges a flat fee for investing as opposed to traditional fees based on a percentage of invested assets.

It operates an unbundled charging structure which costs £48 per year for Isa and general investment accounts, £162 for a Sipp wrapper and £12.50 transaction fees.

It also has a bundled offer without additional transaction fees which costs £120 per year for Isa and GIA and £300 for a Sipp wrapper.

Thameside Wealth director Tom Kean says: “Perhaps Alliance Trust Savings believes price increases are unlikely to drive people away due to client apathy. As the platform is still a relatively new entrant and growing, it seems unlikely it would raise prices in an effort to increase profits at this stage.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com