Nucleus is cutting charges for clients with larger portfolios from 1 November.
Charges are being reduced for all portfolios between £500,000 and £5m, with the biggest reduction - 50% - on amounts between £1m and £2m.
|Tier||Client charge (current)||Charge from 1 November|
Nucleus business development director Barry Neilson said: "This is a decision we are taking as a result of feedback from our advisers.
"Our advisers wanted us to keep our pricing model simple but become even more competitive and our financial success has given us a strong foundation to achieve this.
"As an adviser influenced business we share our users' desire to deliver the best possible client outcome and it has always been our intention to ensure advisers who use the Nucleus platform, as well as their clients, benefit directly from the continued success of the business.
"We believe a profitable 2012 followed by a stellar first six months of 2013 means that now is the perfect time to start doing this while continuing to increase investment into our proposition."Neilson said charges on portfolios valued up to £500,000 will remain unchanged in order prevent lower value clients subsidising higher value portfolios.
Neilson said the charges on portfolios valued up to £500,000 will not be cut in order to prevent lower value clients subsidising higher value portfolios.
He said: "The one thing we are keen to avoid is cross-subsidy of clients. There is a fixed cost of administering a client and we wanted to avoid a scenario where lower value clients on the platform are subsidising higher value clients. It may well be that we will consider pricing at the lower end as well."
Nucleus posted record first-half profits last week, prompting chief executive David Ferguson to say the wrap had entered sustained profitability.
What made financial headlines over the weekend?
Caring for children and elderly relatives
Similar to June 2007
Square Mile’s series of informal interviews
Fine reduced to £60,000