Hargreaves Lansdown's unbundled price structure will see it charge an annual fee of 0.45% for sub-£250k clients, with the group having also negotiated an average AMC for new 'Wealth 150+' funds of just 0.54%.
As of 1 March, the new pricing model will see Hargreaves charge annual fees of 0.45% for investments of up to £250,000 on its Vantage service.
That will fall to 0.25% pa for investments of between £250k-£1m, and 0.1% for investments over £1m.
Investments over £2m will have no charge. There are no charges for fund switching or holding an account at any price level.
In addition, the platform said its Wealth 150 funds will have an average AMC of 0.65%, an 11% discount to standard AMCs of 0.76% for those funds.
A core of 27 'favourite' funds - know as the Wealth 150+ range - will have an average AMC of 0.54%, Hargreaves added - an average 16 percentage point discount to the standard market AMC of 0.7% for the funds.
Examples of funds with lower AMCs include Artemis Strategic Assets, which will have an AMC of 0.66% (vs 0.75% standard unbundled charge), and Invesco Perpetual's Tactical Bond fund, which will have an AMC of 0.45% (vs 0.625% standard).
The platform is also making available new "super-low cost" passive funds from L&G and BlackRock as of 1 March, with charges starting at 0.06% per annum. Flat £1/£2 monthly fees will be scrapped.
Hargreaves said the new pricing represents an £8m investment, with a potential further £9m revenue impact in the run-up to the April 2016 'sunset' rules on legacy business.
Offsetting this overall effect will require Hargreaves to gather a total of £3.5bn in assets over the next three years: the platform noted it saw net new business of £5.1bn in its previous financial year alone.
The platform's CEO, Ian Gorham, said: "We are pleased to announce that we have negotiated new lower cost funds for our clients; changed our pricing structure to the benefit of the majority of our clients and further improved the already excellent service that we provide."
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