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Breakdown: how nationals’ RDR charging stacks up

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by Jun Merrett on Jan 22, 2013 at 10:29

AWD Chase de Vere has altered its adviser charging structure post-RDR but how does it stack up compared to its competitors?

TOWRY

Pictured: Andrew Fisher

Initial fee on investment of 1.5% plus VAT for investment in portfolios up to £250,000 it charges 1% plus VAT for investment in portfolios over £250,000.

Ongoing:

2% for first £200,000

1.15% next £300,000

0.9% for next £500,000

Thereafter 0.75%

Hourly charge to see a wealth adviser is £175 per hour, senior client partner is £225. For that you get: investment reviews, life time cashflow planning, retirement and pension advice, inheritance tax planning and life assurance planning.

Towry does not charge for the initial client meeting.

Skipton Financial Services

No charge for initial client meeting or financial plan

Initial fees on investment

Up to £150,000 4.50%

£150,001 to £300,000: 3.50%

£300,001 to £450,000: 2.50%

£450,001 to £600,000: 1.50%

£600,001 to £750,000: 1.00%

£750,001 or over: 0.50%

Ongoing:0.75%

For that you get:

• Regularly monitoring the performance of their investments against their peers;

• Notification of alternatives if any investment holding consistently underperform against their peers with the option to switch funds for free;

• Quarterly and Annual Reports detailing how their investments are performing and our opinion on the fund;

• The facility to utilise their annual tax free ISA allowance either through new or existing investments;

• Future reviews of their investments;

• Online access to view the performance of their investments.

And at least one face to face meeting with adviser and as many phone calls.

Platform charge 0.22%

Foster Denovo

Pictured: Roger Brosch

No charge for initial meeting

Strategy report: £500-£1,500

Initial fees: 0.5%- 3% depending on complexity of investment

Ongoing fee: 0.5-1% minimum charge of £1000

For that you get at least one face to face client review, but on average four a year, as many phone calls with adviser and support staff and quartery reports.

Close Brothers

Pictured: Martin Andrew

No charge for initial meeting or financial plan

Initial fees:

£250,000: 3%

Next 250,000: 2%

Over £500,000: 1%

Ongoing

£250,000: 1%

Next £250,000: 0.75%

Over £500,000: 0.5%

For that you get:

Quarterly and annual reports, one face to face client review meeting and as many phone calls as you like.

Platform charge 0.25%

AWD Chase de Vere

Pictured: Stephen Kavanagh

Ongoing 1%

Hourly advice fee £200 per hour for adviser

£75 per hour for administrator

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