View more on these topics

Platform moves to monthly flat-fee model

Flat-fee platform Interactive Investor is replacing its quarterly charge with a monthly one to expand its membership options.

Three service plans will be available from 1 June at a cost of £9.99, £13.99 or £19.99 per month.

The least expensive plan ‘Investor’ is £2.01 cheaper than the previous quarterly cost charged to II customers.

Chief executive Richard Wilson says trading costs on the other plans have also been dropped.

He says: “Each service plan has a fixed monthly fee with reduced ultra-low trading fees to suit different investment styles. We don’t think one price should fit all.”

II also engaged consultancy The Lang Cat to assess the charging structure.

Consulting director Steve Nelson says fixed-fee costs advantage customers over uncapped percentage-based ones.

He adds: “Of course, this is simply basic arithmetic in action and it will depend on individual circumstances such as trading levels, contributions and investment types, but such savings can add up over a medium to long-term investment.”

Can Interactive Investor fix Alliance Trust Savings’ technology woes?

The new II fee model saves users around £30,000 in charges over the long-term compared with its immediate competitors, The Lang Cat adds.

II purchased fellow platform Alliance Trust five months ago. The platforms hold a combined £35bn in assets under management and have plans to launch an as-yet defined advice proposition this year.

Recommended

Spring Statement Pounds
4

Standard Life Aberdeen staff anger over ‘zero bonuses’

Standard Life Aberdeen staff are are up in arms after the group has cut bonuses to many staff and has handed others zero – a “doughnut” payout – according to The Telegraph. Bonuses across the company have dropped significantly after it saw more than £40bn outflows during 2018, the paper reports. One insider told The […]

Danby Bloch: The new tax year’s rates, reliefs and rules

Saturday 6 April heralds the start of a new tax year. Out with the old and in with the new rates, reliefs and rules. Tax planning is one of the aspects of advisers’ propositions that clients really value and are prepared to pay for, so make sure you are on top of the changes. The […]

Girl in a phone box

Developing a claims experience with customers in mind

Ross Jackson – Senior Protection Marketing Manager, Royal London ‘Only available online’, ‘no home delivery on this product’, ‘you must apply in-branch’. Is it me or do many businesses still structure their services in a way that suits them? It’s not something that would be considered acceptable in today’s protection industry though admittedly it has felt […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Jonathan Dawson 10th April 2019 at 7:57 pm

    How is £9.99/month cheaper? £9.99 * 3=£29.97. The current quarterly fee is £22.50.

  2. Jonathan Dawson 10th April 2019 at 8:19 pm

    Reading their news story, I understand that the individual trading cost has decreased from £10 to £7.99 but if you have don’t trade all year you are £30 /year worse off.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com