Chris Bredin: How platforms are innovating

Last year saw a fair number of pricing reductions, starting in January with AJ Bell removing its bulk dealing charges for model portfolios. It might seem a small reduction, but if you consider firms running advisory models and regularly rebalancing, even at £1 per trade, costs add up quickly.  Seven IM shaved a very small amount from its charges and Transact announced its now customary annual price reduction, shaving 1 or 2bps off its pricing tiers. But the gong must go to Standard Life Aberdeen, which cut prices across Elevate and Wrap. Prices were cut by as much as 11bps on Elevate ...