AJ Bell Youinvest Managing Director Charles Galbraith says “Following RDR which will abolish payments from fund managers to investment platforms next year, we are pleased to announce that we will be only offering clean funds from 1 January 2014. This change will provide far greater price transparency for our customers which we fully support.”
From 1 January 2014, the cost for holding clean funds with AJ Bell Youinvest will be 0.2% pa with a maximum charge of £50 per quarter per account. Dealing commission for funds has been reduced to from £9.95 to £4.95. ISAs and Dealing Accounts will continue to have no account charge with SIPPs having one of the lowest account charges in the market, at £5, £10 or £25 per quarter depending on the value.
Charles Galbraith adds “Our new pricing for “clean” funds is highly competitive and throws down the gauntlet as other DIY investment platforms prepare to announce their new pricing.”
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