Direct-to-consumer platform Strawberry Invest has launched today, with an annual platform charge of 0.40% on the first £50,000.
A platform charge of 0.35% applies to portfolios valued at between £50,001 and £250,000, and a charge of 0.20% applies to portfolios between £250,001 and £1m.
An annual platform charge of 0.10% applies to portfolios valued at more than £1m.
A fixed platform admin charge of £10 applies. Share trades cost £12.50 and fund trades are free.
Investors will be charged £75 to transfer off the platform but this will not come into effect until the platform has attracted more than 1,000 users.
Strawberry Invest managing director James Priday said: "With the right information, accessible online technology, and a more interactive form of saving, i.e. investing, people will put more money away for their future. The key is to make saving both simple and interesting.
"We are certainly not advocating dispensing with the services of a financial adviser, especially those with fairly complex financial affairs, but believe that people with simpler affairs should have the tools and information to manage their own savings and investments."
An account can be opened with a lump sum of £1,000 or regular contributions of £100 monthly for the first year. Subsequent contributions must be a minimum of £100.
Hargreaves Lansdown, Fidelity and Barclays have all revealed clean pricing structures for their D2C propositions within recent weeks.
Hargreaves announced it would be introducing a 0.45% AMC for sub-£250k clients on its Vantage service
Fidelity revealed an AMC of 0.35% for clients with total assets up to £250,000 on its personal investing platform.
Barclays Stockbrokers introduced a 0.35% fee to all clients with up to £500,000 in assets, waiving the fee for users with larger pots.
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
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