Nucleus halves charges on HNW portfolios as price war hots up

Nucleus has announced plans to overhaul its pricing structure, cutting fees by 50% for clients with assets over £1m as it moves to entice more high net worth clients.

The wrap said it will cut fees for clients with assets of between £1m-£2m from 30bps to 15bps, as well as announcing a number of other reductions affecting users with different sized pots which come into effect from November. The reduction comes after Nucleus last week announced profits of £500,000, a record high. As well as the headline cut for users with £1m, the charge of 35bps for assets between £500,000 and £1m has been reduced to 25bps. For assets between £2m and £3m, the charge will be cut from 25bps to 15bps, while those with between £3m and £5m will see the 20bps charge fa...