Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Whitechurch to introduce tiered charging structure

Whitechurch to introduce tiered charging structure

Whitechurch Securities is introducing a tiered charging structure on its Prestige investment management service.

The proposition is targeted at financial advisers, enabling them to provide their clients with multi-asset portfolios tailored to meet their risk profiles.

The annual management fee, which was previously capped at 0.5%, will remain at the same rate on portfolios between £50,000 and £200,000, but is then progressively reduced through five tiers down to 0.2% for portfolios of £750,000 and above.

The fees are subject to VAT and before the charges levied by the underlying holdings.

The custodian fee of 0.4% will be capped at £1,000, which would see it fall to 0.2% for clients with £500,000, on a percentage basis. Fund switching fees are charged at a flat rate of £12.50.

Whitechurch Securities’ managing director Gavin Haynes said the company’s Prestige investment service has attracted over £180 million and accounted for 80% of new monies over the last year. Whitechurch runs £265 million in discretionary assets in total.

‘The service is proving very popular with advisers looking for an outsourced investment solution that can be tailored to clients’ financial objectives, attitude to risk and investment horizons. We are seeing a significant increase in demand for larger investments, in particular, Sipp money,’ Haynes said.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JP Morgan AM's Conte: why France is my biggest overweight

JP Morgan AM's Conte: why France is my biggest overweight

The European Smaller Companies trust fund manager is also finding opportunities within the European IPO market.

Brewin's Foster: running out of value with Sandy Nairn

Brewin's Foster: running out of value with Sandy Nairn

In this week's podcast, Guy Foster and Dr Sandy Nairn discuss caution towards the stretched valuations most stock markets today currently offer.

Play Colin McLean eyes disruptive potential

Colin McLean eyes disruptive potential

SVM's Citywire AA-rated manager says he is finding more opportunities within mid cap space.

Your Business: Cover Star Club

Profile: BRI plots growth via orphaned clients

Profile: BRI plots growth via orphaned clients

BRI Wealth Management hopes to capitalise on larger rivals’ inability to service smaller clients in the face of margin & regulatory pressure

Wealth Manager on Twitter