Quilter is to reduce its platform costs by about 15% across the board, a move made possible by increasing the amount of margin it takes from cash holdings and improvements in technology.
The business is also set to introduce tiered adviser charging after demand from IFAs. Quilter explained the changes would mean a customer with £300,000 on the platform would see a £750 reduction in charges over five years. A customer with assets of £600,000 could see charges drop by £1,500, it said. Current charge: New charge: Total amount invested Percentage charge Total amount invested Percentage charge First £25,000 0.50% First £50,000 0.35% £25,000 to £250,000 0.30% £50,000 to £250,000 0.25% £250...
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