Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a732348

Can wealth managers cash in on the platform price war?

by James Phillipps on Feb 05, 2014 at 11:22

‘We are very keen on greater clarity so it is easier for people to make decisions and choices about what service best suits them. There has been a remarkably small cost that is the difference to use discretionary management on a platform for a long while. This is now more obvious,’ Reid said.

Iqbal Gandham of low-cost discretionary manager Nutmeg also hopes that greater transparency will provide a fillip for private client investment firms.

‘From a discretionary manager’s point of view, prices are becoming similar and if you look at topline charges, underneath that there is a plethora of trading charges and exit fees. Service is where there is differebentiation.

‘If you are doing DIY and paying 1%, why not go to a discretionary manager where you are paying approximately the same fee? It is a question of “can you get a better level of service for a better fee?”’ he said.

Brewin Dolphin

In the version of this article that appeared in last week's Wealth Manager magazine, a reference to Brewin Dolphin's 'commission per transaction' was erroneously included in a table which was meant to refer only to Brewin Dolphin's 'fee-only' charges. Brewin Dolphin has asked us to make it clear that it does not charge commission, but rather a £20 charge per transaction in its fee-only model, and we are happy to do so.

Sign in / register to view full article on one page

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet