Ascentric introduces new ‘trading inclusive’ charging structure
15 January 2015
Ascentric today announces the launch of a new inclusive charging structure designed to give advisers additional choice and flexibility for their clients. The new charge is a simple, flat 0.30% up to £1m, and 0.10% for additional assets over £1m. It includes all fund trades; and where a client holds assets in model portfolios it includes Exchange Traded Instrument (ETI) trades.
Jon Taylor, Managing Director of Ascentric, said:
“This new, straightforward 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. This new structure will operate alongside our existing standard charging structure and gives advisers the flexibility to select the most appropriate charging option for their client base.
“As a member of the London Stock Exchange, and a leading provider of exchange traded instruments to the retail market, the ability to trade on the Exchange using Ascentric’s model portfolios without additional trading charges is market leading.”
Ascentric is also lowering other charges on its standard charging structure in a drive to offer better value to advisers’ clients. Dealing charges on funds and ETIs will be reduced from £12.50 to £9.50 per trade, the Ascentric Pension Account (APA) will have a reduced administration charge of £100 (down from £150) and the APA Drawdown annual charge will be levied only once a year instead of each time a withdrawal is made.
Notes to Editors:
1) The standard charge is 0.25% plus trading; trading costs are £12.50, to be reduced to £9.50 as a result of this change.
2) The new inclusive charge includes all fund trading and ETI trading where a client holds model portfolios. It excludes individual ETI trades and wrapper charges.
For further information please contact:
Mona Patel 0207 015 2525 / 07919 171964 Mona.firstname.lastname@example.org