AJ Bell has introduced a capped annual charge on its new-look D2C platform Youinvest as it unveils its pricing strategy for 2014.
Youinvest - formerly known as Sippdeal - now has a fund charge of 0.2%, capped at £50 per quarter for consumers.
The pricing compares to its current rate of £12.50 per quarter. While AJ Bell's adviser platform SIPP Centre also has a 0.2% annual custody charge, this rate is not capped, and AJ Bell said it has no plans to introduce any such change.
Marketing director Billy Mackay (pictured) said: "The products are very different, the underlying investor ranges are very different, and the tools are very different between the two platforms.
"We are providing a service for a different market via Youinvest."
Mackay said the RDR had caused the group to alter the current pricing arrangements on its D2C platform, bringing it in line with the change in the rebate rules.
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