James Hay cuts wrap charges

The new structure will see a charge of 0.35% on the first £500,000 of assets, then 0.15% on the next £500,000 and £0.05% on assets topping £1m. The group's previous charging structure saw a charge of 0.65% on the first £250,000, then 0.5% on the next £250,000 and 0.3% on the remaining assets up to £1m. IFG-backed James Hay said the new single charge covers all day-to-day costs and is based on the assets held on the platform, less any cash. It added the charge includes ongoing transactions including share dealing (up to 20 trades per annum), product set-up and annual charges, as wel...