Baillie Gifford is aiming to build its presence in the retail market by giving IFAs renewal commission on new Oeic investments.
The commission rate will be 0.5 per cent a year and will be paid in two instalments in October and April.
Commission will be calculated on the value of funds invested at the end of the previous calendar month subject to a £50 minimum.
Charges will not rise as a result of the increased commission but IFAs will not have the option to waive renewal commission to reduce the annual management charge on Baillie Gifford's Oeics or Isa.
Sales and marketing director Ken Edwards says: “The extension of our renewal commission policy reflects our strong commitment to the intermediary market. It is also another demonstration of our ambition to build our retail business up to the levels that we already enjoy in the institutional pension, investment trust and charity markets.”
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