We’ve been featured in The Lang Cat’s latest price comparison blog; read the full blog on our platform and pricing here.
It’s been ages since I’ve written a pricing blog. It’s also been a decent chunk of time since we’ve seen a new entrant to the advised platform market. A glorious piece of serendipity then to see that Hubwise has (re)launched its advised proposition and given me reason to get the Casio out.
Those who monitor this part of the market closely will know that there has in fact been a decent bit of activity on the pricing front this year. Ascentric and James Hay have launched new shapes, Nucleus and Transact made some shavings round the edges and Alliance Trust Savings and Elevate made increases to their charges.
Pricing activity then has been a bit of a mixed bag. Some new shapes, some marginal decreases, some increases. This is a market that has been converging to a mean, as opposed to racing to the bottom.
With that in mind, let’s look at a summary of what Hubwise are bringing to market:
- Main platform charge is an ongoing custody fee of 0.2% capped at £40 per month. (For those who like primary school arithmetic carried out for them – this works out at a charging cap once you hit £240,000)
- Before you get carried away, it’s important to note that this applies on a per account type basis. i.e. If you have a mixed wrapper portfolio with £100k in an ISA, £200k in a GIA and £700k in a pension then you’ll get a charge of 0.2% taken off the ISA and GIA and £480 taken off the pension.
- The pension wrappers cost an additional £114 (£95+VAT) and Offshore Bond is £250
- Fund switching is bundled in. No charges here.
- ETI trading is low – £2 for individual trades and £1 as part of regular subscriptions or bulk buying.
Want to find out more? Read the full article here.