Close Brothers Asset Management has announced unbundled pricing for its direct platform starting at 0.25 per cent, rising to 0.35 per cent in 2015.
The introductory pricing incentive at 0.25 per cent sees the platform match Charles Stanley Direct, which is currently the lowest percentage based charge available.
Share dealing fees of £8.95 per transaction apply.
The charges are effective from 10 March and the 0.25 per cent rate will run until March 2015. A 0.35 per cent charge will then apply on assets up to £50,000 and 0.25 per cent on assets over that amount.
Close Brothers chief executive Martin Andrew says: “We have structured our pricing to be as simple as possible, competitive in the marketplace, and to offer value for money in terms of total cost for clients opting to use our platform.”
Printed statements cost £10 and the firm says it takes a spread on cash held on the platform.
An exit charge of £75 applies when re-registering assets held in a SIPP account to an alternative platform.
A number of direct platforms have begun offering new and existing customers a range of gimmicks to transfer part or all of their investments in an effort to prise clients away from Hargreaves.
Axa has pledged to waive first-year annual charges if investors buy in before 6 April while Interactive Investor is offering up to £240 to new clients. Nutmeg also has a limited offer which sees its charges reduced by up to 20bps for investors who buy in before 17 February.