Independent wrap Ascentric has introduced a new charging structure that aims to make it more competitive for advisers placing lower value cases on the platform.
Ascentric’s charging now comprises:
• GBP60 + 0.15 per cent charge for funds up to GBP60,000 (previously 0.25 per cent)
• 0.25 per cent platform charge on balance of funds between GBP60,000 and GBP1m
• 0.10 per cent charge on balance of funds between GBP1m and GBP3m
• Discounts are available on the balance of funds greater than GBP3m
The new charges will be available to Ascentric users from 4 January 2011 and removes the GBP150 per annum minimum charge on portfolios of less than GBP60,000. The minimum investment amount has also been reduced from GBP5,000 to GBP1,000.
Richard Goodall, sales and marketing director at Ascentric, says: “The Ascentric proposition already offers a wide availability of investment solutions to advisers. Following feedback from our users, this new charging structure will allow our advisers to offer their investment solutions to a broader range of clients.”
