View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 5, 2014updated 04 Apr 2017 2:32pm

Charles Stanley Direct scraps fees for £500k+ customers

Charles Stanley Direct is to scarp fees for customers who transfer more than £500,000 to the platform before 1 April, for six months.

By Verdict Staff

Charles Stanley Direct is to scarp fees for customers who transfer more than £500,000 to the platform before 1 April, for six months.

In an effort to entice investors, the company will waive both its own platform charge and any custody fee.

The customers can transfer £500,000 into an ISA, self-invested personal pension or non-tax wrapped investment.

The company estimates that the platform fee waiver alone could save an investor up to £625.

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," Hudson added.

Charles Stanley’s move follows a spate of platform pricing announcements, including from Hargreaves Lansdown.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International