Parmenion removes initial fees to 'simplify' life for advisers

After client feedback

Tom Ellis
clock • 1 min read

Parmenion has removed its initial fee and initial dealing charges for all new business and top-ups as of 1 November, the platform and integrated discretionary fund manager has said.

The Standard Aberdeen-owned platform, which said it had seen "record-breaking growth" over the last year as it hit £4bn assets under management, used to charge a 0.25% initial fee on new business and top-ups, as well as an initial 0.90% dealing fee on active solutions. The decision to drop these fees was made with "simplicity in mind" for its advisers, Parmenion said. The platform added that the initial charges had been removed across all wrappers and solutions, including self-invested personal pensions and drawdown, to maintain its aim of "making investing easy". Advisers are still able...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read
Aviva named the preferred platform provider by advisers

Aviva named the preferred platform provider by advisers

Quilter remains in second place followed by AJ Bell and Transact

Isabel Baxter
clock 04 March 2024 • 1 min read