Hubwise will this weekend introduce a simplified pricing structure, including a fee cap, that it says will make it "one of, if not the, most competitively priced platforms in the market".
From 1 July 2017, the existing platform fee of 20 basis points will be capped at £40 per product per month, meaning there will be no further charges above client assets of £240,000. At the same time, trade execution fees for UK-listed investments will be replaced with a £1 settlement fee. Hubwise CEO Angus McDonald said: "We recognise the huge pricing disparity in how platforms charge for their services and have taken innovative steps to change our own pricing for the benefit of the sector. "We have a vision of charging for work done, applying fair and transparent pricing across the b...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
