Ascentric has launched a charging structure to give advisers additional choice and flexibility for their clients, the platform’s managing director Jon Taylor has said.
He said: “This new charging structure goes to the heart of Ascentric’s aim to be seen as the platform of choice in its target market.
“It offers advisers good value in an increasingly competitive marketplace. It will operate alongside our existing standard charging structure and gives advisers the flexibility to select the most appropriate charging option for their client base.”
The new charge is a simple, flat 0.30 per cent up to £1m, and 0.10 per cent for additional assets over £1m. It includes all fund trades. Where a client holds assets in model portfolios it includes trades in exchange-traded instruments.
Ascentric has also lowered other charges on its standard charging structure in a drive to offer better value to advisers’ clients.
Dealing charges on funds and exchange-traded investments has been reduced from £12.50 to £9.50 for each trade. The Ascentric Pension Account also has a reduced administration charge of £100, down from £150, and the APA drawdown yearly charge will be levied only once a year instead of each time a withdrawal is made.
Bob Wilson, financial adviser at Norwich-based GreenSky Wealth, said: “It sounds competitive, certainly for the first £250,000.
“However, a lot of providers have tiered down as the amount goes higher, so there is a possibility one can get it cheaper elsewhere. But the service experience is an important factor also. It is a good proposition though.”