Barclays Stockbrokers has unveiled its new fund pricing structure.
The platform has set its fund administration fee at 0.35% per annum, with no further charge on fund holdings over £500,000.
Fidelity’s pricing starts at 0.35% too with no extra charges beyond £1 million, and Hargreaves starts at 0.45% with no extra charges beyond £2 million.
Barclays has also secured an average annual management charge of 0.68% on 2,000 funds, compared with 0.64% for funds on Fidelity’s Select List of approximately 140 products and 0.65% for the Hargreaves Wealth 150 list.
Barclays Stockbrokers director Alastair Thaw said in a statement: 'We are introducing what we believe to be a clear, simple and fair RDR funds pricing structure.
'The Retail Distribution Review has encouraged a more competitive marketplace, however we recognise that the changes can be confusing. Investors need clear and simple information about the price they are paying and we have designed our pricing structure with clarity, simplicity and fairness at its heart.'
He added: 'Where it will benefit our clients, we will be actively converting existing client fund investments to clean share classes from 1 March 2014 because we believe it is the right thing to do and supports the aims of RDR.'
The firm clarified that it would only convert ‘non clean’ funds to clean share classes where the combined cost of the fund administration fee and the clean annual management charge is less than ‘non clean’ fund annual management charge.
Barclays will also only permit purchases into clean share class, where they are available, from 1 March 2014.