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Trustnet rivals AJ Bell with launch of D2C platform

Trustnet has launched a direct-to-consumer platform, Trustnet Direct and capped charges at £200.

Trustnet Direct charges 25 basis points, capped at an ann-ual £200, with a minimum of £20. The dealing charge for funds and shares is £10, which falls to £6 for customers who carry out more than 10 transactions on Trustnet Direct in a month.

The wrap is powered by direct platform Interactive Investor, which has launched a white-label service this month.

D2C rival AJ Bell Youinvest launched a similar charging structure in January with investments charged at 20bps and a £50 quarterly cap.

Trustnet Direct charges exit fees of £15 per line of stock while holding a Sipp wrapper incurs an additional £120 charge plus VAT per year.

Reinvesting dividends costs 1 per cent with a £10 cap. Other event-driven charges also apply.

The data provider announced in December that it was planning to offer a D2C platform.

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