Praise for Ascentric's all in fee structure

“In terms of profitability, I don't see this making a huge difference to Ascentric's bottom-line. The key challenge is for the platform to reign in its cost base, which has spiralled no thanks to its drawn-out re-platforming project,” Mr Okusanya said.

Mr Polson said percentage-based charging structures tend to favour providers over time, as stock markets rise and account balances increase.

“I don’t think simpler structures necessarily reduce margins for providers – in fact it may be the other way around. But I do think that we are seeing a wave of pricing changes which providers are trying to characterise as sustainable – in some cases bucking the overall downward trend of pricing.”