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Zurich reveals platform charges and generational option

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Zurich has revealed it will operate a tiered charging structure on its Zurich Intermediary Platform and allow families to combine assets from up to three generations to benefit from lower charges.

Money Marketing revealed the provider’s draft charges in July. The final charges are similar except the two highest value tiers have an extra 0.025 per cent charge added.

The provider will operate a generational linking option, subject to a minimum combined investment of £200,000.

Investors with assets worth up to £50,000 will be charged 0.45 per cent. For assets of between £50,001 and £100,000 the charge will be 0.325 per cent, assets between £100,001 and £250,000 will incur a 0.3 per cent charge and for assets between £250,001 and £1m the charge will be 0.275 per cent. A charge of 0.225 per cent will be applied to assets worth over £1m.

An annual flat fee of £75 applies for retirement accounts and will be taken quarterly.

ZIP will have stockbroking charges of £10.50 per trade per fund for investments worth up to £24,999.99 and 5bps for trades worth £25,000 and over.

Zurich UK Like head of retail wealth management Mark Peters says: “We believe that the platform charges and remuneration options for our Intermediary Platform, which we have soft launched to a controlled number of adviser firms, are competitive. The Zurich Intermediary Platform has a simple charging structure based on the total assets held by a client on the Platform.”  

The platform soft-launched in September to 16 adviser businesses including four SimplyBiz member firms and is due to be rolled out to the wider market by the end of this month.

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