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Chelsea reveals D2C platform pricing

Chelsea Financial Services has unveiled its new pricing structure which positions the firm at the expensive end of the market. 

The firm has reduced its own fee from 0.5 per cent to 0.4 per cent for clients with less than £250,000. There are reductions for clients with more than £250,000, with assets above £2m avoiding Chelsea’s fee.

Chelsea white-labels the Cofunds platform, so clients have to pay an additional fee to Cofunds which has been lowered from 0.25 to 0.2 per cent.

In total Chelsea will charge 0.6 per cent for assets up to £250,000, with charges tiered down to 0.15 per cent assets over £2m.

There are no extra fees for services such as telephone dealing and paper statements and no exit fees.

Chelsea managing director Darius McDermott says: “There is always someone who will do a job cheaper but that does not mean they will do it better.

“It pays to read the small print that comes with some of the so-called low-cost deals which have been announced in the past few weeks. With Chelsea, there are no additional charges.”

Chelsea’s pricing structure:

 
Assets between Chelsea fee Cofunds fee Total fee

£0-£250k

0.40%

0.20%

0.60%

£250k-£500k

0.35%

0.20%

0.55%

£500k-£1m

0.30%

0.20%

0.50%

£1m-£2m

0.25%

0.15%

0.40%

£2m+

0.00%

0.15%

-£1m

Source: The Platforum

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