The fee has increased by 5 per cent from £600 to £630 but, due to VAT returning from 15 per cent to 17.5 per cent, the total payable inclusive of VAT rises to £740.
The firm has cut its one-off establishment fee as part of the changes from £495 to £475, excluding VAT.
Communications manager Natalie Oliver says: “Some of our fees have come down and some have gone up but we are trying to unbundle our charges in line with the FSA’s treating customers fairly drive to make sure our pricing is clear to clients.”
Informed Choice managing director Martin Bamford says: “Pointon York are at the full Sipp end of the market, offering a lot of investment choice, so you would expect to pay more but. with a lot of comp- etition in the market from new entrants, it seems strange to put prices up now.”