True Potential introduces tiered platform charge

True Potential has announced the launch of a tiered ongoing platform charge as it continues to combine competitive pricing with technology to deliver better outcomes for clients.

The new structure, which replaces a flat fee model, reduces the ongoing platform charge as assets grow and is the latest in a series of technology service investments from True Potential, including cashflow modelling capabilities and its AI-powered assistant, Indigo.

The wealth management firm said that collectively, these enhancements support its strategy of being a “market-leading technology-led platform that redefines how clients and advisers engage with wealth management”.

Under the new structure, the ongoing platform charge will be calculated at client level, consolidated all eligible assets into a single effective rate applied pro-rata across all accounts.

Previously applied as a flat rate of 0.4%, the structure is now tiered at 0.4% for client assets under administration between £0 and £150,000; 0.3% between £150,001 to £500,000; 0.2% for between £500,001 and £5m; and 0% for just over £5m and above.

CEO at True Potential Investments, Jeff Casson, stated: “Our focus is on delivering outstanding value for every client, whether they are just starting out or have been building their wealth with us for years.

"Today's enhancement is the latest step in our ongoing commitment to improving that value through a combination of competitive pricing, technology innovation and platform development. Combined with our continued investment in digital tools and client experience, it further strengthens the overall proposition we provide to clients and advisers.”

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