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ATS to hike platform fees by up to 87% from February

Alliance Trust Savings has increased prices on its advised platform by up to 87 per cent.

The platform will retain its flat fee charging structure but will increase its standard annual fees by 87.5 per cent from £48 to £90 for Isas and by 15 per cent from £162 to £186 for Sipps.

Standard pricing does not cover dealing costs, which will be £12.50 per trade.

An alternative inclusive pricing option is available with no dealing charges. The inclusive fee option is £330 for Sipps and £180 for Isas. 

Some event-driven charges have been removed. These include corporate actions and cash withdrawals. 

There is no charge to re-register assets away from the ATS platform until March 2014, after which, a £100 fee applies. 

Money Marketing reported in November that ATS was planning an increase to its pricing.

The new prices are effective from February 2014 and fixed until 2016.

ATS managing director Patrick Mill says: “We remain fundamentally committed to a transparent flat fee model as the value of an individual account does not change the cost of administering it.

“We believe percentage charging structures are simply a tax on wealth.

“We believe customers will understand these price increases are necessary in order to ensure we maintain consistently high standards and quality of service.”

The Lang Cat principal Mark Polson says: “ATS’s flat fee structure remains comfortably ahead of the pack for larger portfolios.”

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