Parmenion on target to hit £1bn AUA in two years

The existing 0.3% charge is to be replaced with a scale sliding down to 0.15%, as part of a strategy to capture higher value clients. "We have about half a billion on the platform, and are attracting £250m of inflows per year, which is a reasonable rate," said managing partner Richard Mein [pictured]. "We're happy with that for the time being...