Charles Stanley launches direct to consumer platform
The firm is looking to challenge Hargreaves Lansdown by offering 1,400 funds direct to consumers.
Charles Stanley is to launch its direct-to-consumer investment platform this week, with 1,400 funds offered to investors initially.
“This is an ongoing commitment, not a flash in the pan,” said Ben Yearsley, head of investment research at the firm.
“We want to make an impact. We are a year early in launching our clean share prices and will stand out because we are already ready.”
Around 1,400 funds, including investment trusts, will be initially offered on the Charles Stanley Direct platform.
The platform will offer predominantly clean-fee fund share classes rather than using bundled share classes.
Mr Yearsley said the next step would be to launch buy and sell lists in March, then a Junior SIPP and ISA range in early summer.
For unit trusts and Oeics, the platform will impose a 0.25 per cent charge for the first £500,000 of assets and a 0.15 per cent charge on assets above that level.