Charles Stanley Direct has unveiled its charging structure for its new D2C platform which launches this week.
Investors will be charged 0.25 per cent per annum on all commission-free funds for the first £500,000 invested, with the figure falling to 0.15 per cent per annum on a balance in excess of £500,000.
The platform says there will be no charge placed if six or more chargeable trades are made on stocks and shares – including ETPs and investment trusts – placed on a six-monthly basis.
Otherwise, a 0.25 per cent per annum platform charge will be placed on all investments – excluding non-fund investments and the cash balance – held across all accounts, with a minimum fee of £20 and maximum fee of £150.
Individual stocks and overseas bonds will be charged annually in arrears at £30 per holding, with a dealing charge of £10 per trade for stocks and shares for online trading and £20 for telephone trading.
The platform has launched with approximately 1,400 clean-priced funds, over 3,000 shares and gilts, investment trusts, bonds and offshore bonds.
Anyone who transfers existing business to the platform will receive an adviser and platform rebate on the annual management charge of a fund before Charles Stanley Direct levies its platform charge.
Charles Stanley Direct’s head of investment, Ben Yearsley (pictured), says: “We are significantly lower priced than traditional models.”