Seven Investment Management (7IM) is to cut fees for investors with larger sums on its platform in a move which will make it a more competitively-priced platforms for high-net-worth clients and family groups.
From 1 April, investors with between £2m and £5m on the 7IM platform will see their fees fall from 0.15% to 0.08% for the balance between £2m and £5m, while those with more than £5m will see fees drop from 0.15% to 0.05% for balances over £5m.
The move ensures 7IM's award-winning platform will be one of the most keenly priced around, offering users real value for money.
The fee cut will apply to both existing and new business, giving potential clients' access to 7IM's proposition - which is set apart from competitors thanks to its integrated highly-flexible model - for a much lower price.
Whether advisers choose to look after clients' portfolios themselves or prefer to use 7IM's investment solutions, the 7IM platform provides a range of options to suit all investment proposition requirements, and helps advisers manage their businesses more efficiently.
Verona Kenny, head of intermediary at 7IM, said: "We want to make sure that our fees remain appropriate and fair to our clients and we believe that this reduction to our rate card makes us the best value for money platform available for clients including those with higher balances and in family grouping for pricing.
"This client segment has always been a key area for 7IM and we are pleased to be able to offer this deal for both existing and new clients. We see this as a core part of our move to provide high-net-worth individuals with the best possible offering and client experience."