Neville James has introduced a more flexible commission menu for its investment funds. Intermediarie...
Neville James has introduced a more flexible commission menu for its investment funds. Intermediaries will be able to determine the structure of their remuneration package allowing them to choose flexible commission or fees.
The company, which was taken over recently by the Australian company Challenger Group, offers a Zero Preference Fund and advisers will be able to take a commission of between 0% and 4% and will receive a trail commission of up to 0.5%. For the Secure Capital Growth Fund the upfront commission will be up to 4% if a commission trail is taken and between 0% and 5% if it is not. For the With-Profits Plus Fund, an initial commission from 0% to 3% will be offered if the trail commission is taken and from 0% to 5% if it is not.
The move to the flexible structure was brought about in recognition of the fact that intermediaries increasingly want to determine how they are remunerated, according to John Heller, managing director of Neville James. He said: 'Responding to the growing desire of intermediaries to be able to choose the commission or payment structure, we felt a flexible commission structure was the best solution.'
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