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New D2C platform YourWealth launches

Direct-to-consumer platform YourWealth has launched revealing a tiered charging structure of between 0.3 and 0.1 per cent and distributor fee of £4 per month.

In August, Money Marketing revealed that YourWealth would launch this year using Ascentric white-label service Investment Funds Direct.

At launch the platform will have 1,500 funds and will need a minimum investment of £1,000 which can be made in a lump sum or monthly contributions of £100.

The charges see people with up to £50,000 charged 0.30 per cent, assets between £50,001-£250,000 charged 0.25 per cent, holdings between £250,001 and £1m will be charged 0.2 per cent and over £1m charged 0.1 per cent.

Charges are subject to a minimum of £30 per year.

YourWealth founding director Toby Hughes says: “With changes, at the end of 2012, to the way financial advisers charge for advice one likely consequence was the emergence in the market of an advice gap, with fewer people taking professional advice, looking at alternative ways to manage their own finances and investments.”

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