Friday, March 1, 2024
HomeFinancial PlanningNucleus cuts wrap platform cost

Nucleus cuts wrap platform cost



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

It mentioned the minimize will ship a mean 3.2% discount in prices for eligible clients.

Underneath the brand new customary pricing construction, a buyer with belongings of £500,000 would see their cost decreased by £450 over 5 years.

The speed minimize 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 minimize from 35 to 33 foundation factors.

Nucleus mentioned it reckoned its clients would save £5m in 2024 by means of the mixed value reductions on high of £5m saved within the final 18 months.

Mike Regan, chief monetary officer at Nucleus mentioned: “As we construct scale this enables 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 consequence for a lot of of our clients, who collectively may have saved greater than £10m by the top of subsequent yr.”

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

New Nucleus Wrap buyer customary charging construction.









Earlier prices

New prices

Tier

Commonplace cost

Tier

Commonplace 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 Underneath Administration. Curtis Banks will finally be rebranded beneath the Nucleus banner.


 



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