Nucleus cuts wrap platform cost



Adviser platform and SIPP supplier Nucleus has trimmed its normal annual Wrap platform cost by three foundation factors for holdings between £200,000 and £500,000.

It stated the reduce will ship a median 3.2% discount in fees for eligible prospects.

Below the brand new normal pricing construction, a buyer with property of £500,000 would see their cost lowered by £450 over 5 years.

The speed reduce is efficient from 1 December and is Nucleus’s second value discount within the final 18 months. In July 2022, the headline annual platform cost was reduce from 35 to 33 foundation factors.

Nucleus stated it reckoned its prospects would save £5m in 2024 via the mixed value reductions on high of £5m saved within the final 18 months.

Mike Regan, chief monetary officer at Nucleus stated: “As we construct scale this permits us to take a position extra in our service, product and value. This newest value discount will increase our competitiveness, and extra importantly, delivers an improved end result for a lot of of our prospects, who collectively can have saved greater than £10m by the top of subsequent yr.”

He stated the corporate has invested greater than £20m in its proposition, service and value within the final 18 months.

New Nucleus Wrap buyer normal charging construction.









Earlier fees

New fees

Tier

Normal cost

Tier

Normal cost

£0 to £0.5m

33bps

£0 to £0.2m

33bps

 

 

£0.2m to £0.5m

30bps

£0.5m to £1.0m

17.5bps

£0.5m to £1.0m

17.5bps

£1.0m+

5bps

£1.0m+

5bps

 

In September Nucleus accomplished its £242m acquisition of SIPP and SSAS supplier Curtis Banks to create a retirement-focused adviser platform with roughly £80bn in Property Below Administration. Curtis Banks will ultimately be rebranded below the Nucleus banner.


 



LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

Recent