Nucleus has reduced its platform charges for all clients with at least £500,000 of assets.
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The new pricing halves charges for clients with between £1 million and £2 million. Nucleus has reduced the charges from 35 basis points (bps) to 25bps for assets between £500,000 and £1 million. The firm has halved the charge from 30bps to 15bps for assets between £1 million and £1.5 million.
For assets between £1.5 million to £2 million, the charge is also halved from 30bps to 15bps. Nucleus has dropped the charges from 25bps to 15bps for assets between £2 million and £3 million. The price has gone down from 20bps to 15bps for assets between £3 million and £5 million.
The charge on assets up to £500,000 remains at 35bps, while the charge for assets in excess of £5 million remains at 15bps. The new charges come into effect on 1 November and apply to new and existing business.
Nucleus business development director, Barry Neilson, said: "This is a decision we are taking as a result of feedback from our advisors. Our advisors wanted us to keep our pricing model simple but become even more competitive and our financial success has given us a strong foundation to achieve this.
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By GlobalData"We believe a profitable 2012 followed by a stellar first six months of 2013 means that now is the perfect time to start doing this while continuing to increase investment into our proposition," added Neilson.
