Tuesday, 04 February 2014 11:05
Charles Stanley scraps fees for transfers of £500,000 and over
Charles Stanley Direct has announced it is scrapping charges on transfer over £500,000 for six months.
The zero fees move has been made to tackle what the firm called "excessive industry exit fees".
This fee free offer gives investors the opportunity to aggregate different investments onto one platform whether they are held in a Sipp, ISA or outside of a tax wrapper.
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For new investments or transfer instructions of £500,000 or more received prior to 1 April 2014, the following will be waived until October 2014:
• Platform fee on funds – 0.25% per annum – a potential saving of £625 or more.
• Shares and investment trusts custody fee – 0.25% per annum.
Rob Hudson, head of Charles Stanley Direct, said: "Many clients have expressed an interest in using our service, but some have been put off by high transfer fees from competitors.
"Our six month fee free offer helps offset the cost of moving. In addition, we will guarantee that if any client isn't satisfied with our service and wishes to transfer to another provider in the first year, we will waive any exit charges."
The zero fees move has been made to tackle what the firm called "excessive industry exit fees".
This fee free offer gives investors the opportunity to aggregate different investments onto one platform whether they are held in a Sipp, ISA or outside of a tax wrapper.
{desktop}{/desktop}{mobile}{/mobile}
For new investments or transfer instructions of £500,000 or more received prior to 1 April 2014, the following will be waived until October 2014:
• Platform fee on funds – 0.25% per annum – a potential saving of £625 or more.
• Shares and investment trusts custody fee – 0.25% per annum.
Rob Hudson, head of Charles Stanley Direct, said: "Many clients have expressed an interest in using our service, but some have been put off by high transfer fees from competitors.
"Our six month fee free offer helps offset the cost of moving. In addition, we will guarantee that if any client isn't satisfied with our service and wishes to transfer to another provider in the first year, we will waive any exit charges."
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