Ascentric has launched a new charging structure aimed at making it more competitive for advisers placing lower value cases on the platform.
The firm will charge £60 plus 0.15 per cent for funds up to £60,000, compared to the current charge of 0.25 per cent. A 0.25 per cent platform charge will apply on the balance of funds between £60,000 and £1m, and a 0.10 per cent charge on the balance of funds between £1m and £3m. Discounts are available on the balance of funds greater than £3m.
Ascentric is removing the £150 a year minimum charge on portfolios less than £60,000 and the minimum investment amount has been reduced from £5,000 to £1,000.
The new charges will be available to users from January 4.
Sales and marketing director Richard Goodall says: “The Ascentric proposition already offers a wide availability of investment solutions to advisers. Following feedback from our users, this new charging structure will allow our advisers to offer their investment solutions to a broader range of clients.”