Whitechurch Securities has introduced a raft of lower prices for advisers who put clients with larger portfolios into its multi-asset investment management service.
The group has introduced a tiered pricing structure on its Prestige Investment Management Service, with lower annual charges for clients with more than £200,000.
The annual management fee remains 0.5% for clients with between £50,000 and £200,000, but is then progressively reduced for larger portfolios.
For portfolios holding £750,000 or more, the fee will be 0.2%, while portfolios with more than £1m will be charged at just 0.1%.
In addition, the custodian fee of 0.4% will be capped at £1,000. This means clients with £500,000 will effectively be charged just 0.2%. Fund switching fees are £12.50.
Whitechurch Securities' managing director, Gavin Haynes, said the market for larger portfolios is highly competitive, but added the new structure should help the group grow the business
“We are seeing quite a lot of demand from advisers who have used traditional stockbroker services, who are looking for a low-cost solution," he said.
“We certainly believe there is scope to increase our market share.”
