Discount broker Clubfinance is replacing the tiered annual fee structure on its investment platform with a flat rate of 0.24%.
The Frequent Trader platform's tiered structure, which ranges from 0.35% down to nothing on sums above £1m, will be replaced with the new flat rate on 1 April 2014.
A minimum quarterly charge of £30 will apply meaning that accounts with £50,000 or more will incur the 0.24% charge, while accounts with less than this will pay £120 per year.
Investors are not charged for fund switching but will incur an increased share dealing charge of £2.50 per trade from April.
The broker said the new trading charge, which will go up from 50p per trade, will allow for the adjustments to the annual pricing.
Clubfinance co-founder and director David Scrivens said: "Many fund platforms and supermarkets are introducing new post-RDR pricing structures with access to so-called ‘clean' funds with lower annual charges.
"While they are providing access to funds that are, on the face of it, lower-cost, in a lot of cases investors will ultimately pay higher charges. This is because fund platforms are introducing new or increased fees to offset the loss of commission payments they used to receive from many fund managers under the old-style, pre-RDR fee structures."
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