Adviser investment platform AJ Bell Investcentre has announced it will remove and reduce a number of charges.
This is part of the firm’s initiative to increase the value financial advisers can offer their clients via the platform.
The following charges will be removed with effect from 10 June:
- Cash transfers-in to a self-invested personal pension (Sipp) will be free of charge – currently £60 ($75, €71) plus VAT;
- The Sipp setup charge will be removed for accounts opened online – currently £120 plus VAT; and
- The dealing charge for proportionate disinvestments across portfolios in the funds and shares service will be removed – currently £1 per holding disinvested.
In addition, the platform custody charge will be removed for cash holdings in the funds and shares service with effect from 1 July.
Billy Mackay, managing director of AJ Bell Investcentre, said: “As the business grows, we are always looking for ways to share economies of scale with advisers and their clients and at a time when so many people are dealing with the impact of the rising cost of living, now felt the ideal time to make our latest round of charge removals and reductions.
“These changes will enable financial advisers to offer their clients even greater value via our platform and reinforce our position as one of the most competitive platforms in the advised market.”