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Charles Stanley Direct offers price cut for top-end clients

D2C platform Charles Stanley Direct has cut charges on assets over £2m from 0.15 per cent to 0.05 per cent.

Charles Stanley head of investment research Ben Yearsley says the move, which comes into effect from tomorrow, is designed to ensure the platform remains a cost effective option for investors.

“This is a reflection of our commitment to remain very competitive,” he says.

In February, Charles Stanley launched an incentive offer for clients with over £500,000 in assets, offering to waive fees for six months for those that transfer onto the platform.

It has now reduced the threshold for the fee waiver to £200,000.

A number of D2C platforms launched incentive offers earlier this year after platforms were forced to move to clean shares and explicit platform pricing in April. 

Charles Stanley currently charges 0.25 per cent per annum on the first £500,000 held across all accounts and 0.15 per cent on assets in excess of £500,000.

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. Sorry I just don’t get it. I can pay £75 pa plus £12.50 for each trade to ATS or on £2,000,000 I can pay £3500 pa to Charles Stanley. Not sure why anyone with £2,000,000 would be with them

  2. @Bones

    Pay £150 and trade as much as you like with no further cost. However you cant buy SICAVS on their platform – yet.

  3. @Harry – so I can have £2,000,000 in unit trusts, Oeics, or Investment trusts trusts and pay £150 ? or just in direct equity ?

  4. @Bones

    I’m not a staff member of ATS, but as I understand it – yes that’s right. I suggest you double check with them , but that is what they have told me.

    Much as I would like to move to them I can’t unless I dispose of my SICAVs – (mine and clients) which I’m very reluctant to do. A great shame.

    As I understand it this charge is set to 2016. I really don’t believe they would go overboard after that. Even if they doubled it, it would still be good vale. (Not that I’m giving them any ideas!!)

  5. It’s £150 for upto 25 trades per annum. Very cheap for larger porfolio’s if not too actively traded. Or the other option that bones mentions.

    Still, horses for course as they say. Thats why people shouldn’t commit to only using specific Wraps or Platforms.

    It’s like the recent HL announcement that you could by Woodford’s new fund for 0.65% Super Super clean. It was 0.75% on AJ Bell Sippcentre. However, their platform cost is cheaper and so the overall cost of ownership is more expensive on HL that on Sippcentre. So much for super super clean.

    I think they call that Due Dilligence!

  6. @Phil

    Yes, interesting, but dealing with AJ Bell is very costly for the adviser (in my experience) as they have a pretty poor site and service and admin are dreadful. Even answering the ‘phone takes them ages and don’t expect a return call.

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