Retirement planning platform James Hay is to increase prices across various products next month in order to fund changes that it believes will deliver a better service for advisers.
The changes will be phased in from April, beginning with IPS products - original products offered by the platform. Changes to the Modular iPlan, a plan than enables investors to add and remove modules from their self-invested personal pensions (SIPP) as they see fit, will take effect from 31 May. The platform increased its charges on investments right up to £2.5m, with rates on a £100,000 investment rising from 0.38% to 0.43%. From £2.5m onwards charges fell however, from 0.10% to 0.09%. Additional fees will also be levied on SIPPs in drawdown, but the platform said the new prici...
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