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Zurich prices had been out of step with rivals | FTAdviser.com

“Zurich is coming into line with our pricing structure.

“Our pricing structure is not under review at the moment since we completed the cycle of pricing changes at the end of last year.”

Axa Wealth said they have no further plans to change their pricing structure following the changes they made at the end of 2012.

Nick Lee, head of strategic partnerships at Axa Wealth, said: “Having led the way in reducing platform charges at the end of 2012 and recently reducing our charges for larger portfolios we have no further plans at present to change our charges further.”

Paul Boston, sales director at Novia, added there seems to have been “a really unhealth focus on price, with Zurich the difference in price is in single digit basis points”.

He said: “We are not going to reduce our price. We think it is a fair price for functionality that we bring which enables advisers to make full use of clients tax allowances easily.

“Tax on investments has by far the biggest impact on client returns because we are talking in thousands of basis points rather than single digits.”

However, Alistair Wilson, head of retail platform strategy at Zurich, said the new charges are about offering customers a straightforward pricing structure.

He said: “It is important when applying a price reduction that all our customers benefit. We are delighted to be able to offer a straightforward pricing structure to them and we would echo the calls from the adviser community for simplicity on costs.

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Zurich prices had been out of step with rivals.

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