Succession, a UK-based wealth management firm, is planning to launch a lite version of its platform for clients with less than £50,000 of investable assets.
Under the expanded Succession investment platform, clients will be charged 25bps to access the platform, according to Professional Adviser.
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In addition, clients will be charged an extra of 18bps to access a risk-rated fund which Succession CEO Simon Chamberlain expects to launch shortly.
Meantime, Succession is planning to launch a full discretionary service for wealthy clients.
The firm will encourage advisory firms to implement its processes, use its in-house investment matrix and place client assets on its open-architecture platform.
Succession currently has more than 60 members firms that are offered half the amount in cash and half in equity in the business.
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By GlobalDataChamberlain said: "At no point does legal ownership of their assets move."
