Charles Stanley Direct has moved to capture large clients from competitors by scrapping its own charge for new or re-reg clients with £500,000 or more, for a limited period.
D2C platform Charles Stanley Direct reported a net revenue increase of just £3,000 in 2013, blaming rising industry costs, but the wealth manager saw revenues jump 18% overall as AUM hit a record £20bn.
Charles Stanley Direct has cut its share dealing rate by 25% to £7.50 per trade for the whole of January, in a bid to encourage clients to annually rebalance their portfolios.
Hargreaves Lansdown could be set to charge lower-end clients around 70bps when it publishes its new clean fee structure, expected this week.