James Hay has overhauled its pricing structure across a number of product ranges, set to favour the largest investors.
The firm has increased charges for the lowest tiered investment brackets and decreased the fees for the higher band by 0.04 percentage points.
For its Modular iPlan portfolio the firm has introduced a new tiered structure for the annual investment centre platform with charges starting at 0.25 per cent on the first £300k investment (previously the first £500k charged 0.18 per cent) and will then reduce fees in stages to 0.01 per cent on investments over £1.5m (previously at 0.5 per cent).
Changes to James Hay IPS Managed Portfolio Service will start from 28 April, while for Modular iPlan changes will take effect from 31 May.
The headline charge for Modular iPlan will reduce from £195 to £175 for investments up to £200k and will be waived completely for investments over £200k.
The new Modular iPlan pricing structure will remove the £50 fee for contributions and the £50 per cash transfer-in fee but will replace them with an adjusted platform charge.
Taken altogether, the new pricing structure will result in an average annual increase of around 0.036 percentage points.
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