James Hay is waiving its 0.3 per cent cash receipt charge on all new wrap applications until the end of the year.
The offer will apply to all new client applications received from June 18 until December 28, 2007. The offer will be applicable for the life of the client’s wrap account.
Abbey Wealth Management regional sales director Shaun Sandiford says it recently hosted a focus group of wrap users and found that the cash receipt charge was a barrier to new clients. He says advisers would be more inclined to bring more new clients on to a wrap if the charge was taken away.
Sandiford says: “Intermediaries felt the removal of the cash receipt charge barrier would encourage them to bring more clients to wrap.
“We remain focused on providing the best service to clients and accordingly we are delighted to respond to that feedback by waiving the charge until December 28, 2007.”