British investment management firm Charles Stanley has increased unbundled minimum investment management fees by 50% to £600 from £400 to bring it in line with competitors in a more demanding regulatory climate.
The bundled option includes transaction fees and charges 1% on the first £1 million, 0.5% on the next million and 0.25% after that.
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The firm has also upped the transaction charges from £10 to £15.
Also, there will be a change in the banding for the fee plus commission option, with the fee component at 0.5% applicable to the first £1 million, whereas previously it was tiered from £250,000.
Clients have been informed, a Charles Stanley spokesman said, with a ‘majority’ of fee increases on the managed side set to come through gradually over 12 months, starting on 1 October.
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By GlobalData
