Ascentric is to make changes to its pricing structure - removing all add-on charges in a bid to make costs more "transparent" while increasing its 'headline rate' from 0.25% to 0.30% for portfolios up to £1m.
The platform currently makes clients pay self-invested personal pension (SIPP), drawdown, model portfolio and trading charges, all of which will be scrapped as of 1 May when the new structure comes into effect. Ascentric said it would be the first platform in the market to remove all such add-on charges. Charges for portfolios worth £1m to £3m will remain at 0.10% while charges on portfolios worth £3m to £5m will be priced at 0.06%. Despite the five basis-point headline rate increase for smaller portfolios, managing director Jon Taylor (pictured) argued the costs for Ascentric's "aver...
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