7IM cuts platform fees for portfolios above £2m in HNW bid

The changes will see those with between £2m and £5m on the platform pay 0.08%, rather than the old price of 0.15%, for their balance between those values. Those with more than £5m will see their fees drop from 0.15% to 0.05% for their monies above £5m. The fee chop will apply to both existing and new business. Despite the price cut, however, the lang cat's heatmap suggests 7IM will remain in the middle of the market on cost for clients with large portfolios. The table below assumes a portfolio split of 50% pension, 25% ISA and 25% GIA. Source: the lang cat 7IM head of intermedia...