AJ Bell has announced its unbundled charging structure for Sippcentre to operate after the Retail Distribution Review (RDR).
Charges are applied depending on the wrapper used, the total invested in its in-house funds and share services.
It added the initial set up fee of £125 for its basic wrapper would be waived of more than £25,000 of self-invested personal pension (SIPP) assets are invested.
A quarterly administration fee of £25 for assets of up to £25,000, £35 of up to £50,000, and £45 for more than £50,000 will apply. If the fund is worth more than £200,000 the administration fee will be waived.
The firm said it would charge £60 for transfers-in - with no additional charge for assets transferred in-specie.
Andy Bell, chief executive of AJ Bell, said: "While this charging structure is new, our proposition continues to focus on a blend of price, service and functionality. Using the example of a SIPP client with £250,000 invested in our in-house funds and shares service, they will be charged 0.20% p.a. for our platform, which will be at the sharp end of the market.”
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