Royal London-owned platform Ascentric has introduced a new “inclusive” charging structure to sit alongside its existing fee model.
Under the new structure, investors are charged a flat 0.3 per cent up to £1m of assets, with a 0.1 per cent charge on additional funds over £1m. There will be no extra charge for fund trades or exchange traded products where clients have assets in model portfolios.
The fee excludes individual ETP trades and wrapper charges.
Ascentric’s existing charging structure will also remain open to advisers and will have lower charges. Dealing charges on funds and ETPs will drop from £12.50 to £9.50 per trade, the Ascentric Pension Account will have a administration charge of £100 – down from £150 – and the drawdown annual charge will only be levied annually, rather than each time a withdrawal is made.
The standard charge will remain 0.25 per cent.
Ascentric managing director Jon Taylor says: “This new, straightforward charging structure goes to the heart of Ascentric’s aim to be seen as the platform of choice in its target market. It offers advisers good value in an increasingly competitive marketplace. This new structure will operate alongside our existing standard charging structure and gives advisers the flexibility to select the most appropriate charging option for their client base.
“As a member of the London Stock Exchange, and a leading provider of exchange traded instruments to the retail market, the ability to trade on the Exchange using Ascentric’s model portfolios without additional trading charges is market leading.”