Reduced pricing now available on Wrap
Delivering more value for your clients
I’m pleased to let you know that we reduced and simplified the pricing on our Wrap platform on Saturday 18 April.
During these unprecedented times, we remain committed to delivering on our experience commitments by continuing to invest in our propositions. We were able to complete the reprice on Wrap as we’ve put in place a number of business continuity strategies which has put us in the best possible position, while fully following the latest government policy on remote working and strict social distancing measures.
I’m also pleased to confirm we’re still on track to deliver our innovative Drawdown Price Lock on 30 April 2020. We appreciate this may not be your top priority as you support clients through this time of market volatility, but we want to ensure you have full flexibility to offer this valuable feature to eligible clients when the time is right. We’ll be in touch soon with more details on the support we’ll provide for this launch
Advisers that use Wrap can be confident our new fee structure means they can deliver great value for life for clients consolidating and entering drawdown in these challenging times.
Our reduced Wrap pricing structure
We’ve reduced pricing and simplified the Wrap pricing tiers from six to just four. The headline rate for our platform charge is now 0.35% across all of our products, down from 0.40%.
To help you continue to build valuable, long-term relationships there is also a reduction in the £250k to £750k for your wealth clients.
|
Platform Eligible Assets |
Platform Charge |
|
All products |
|
|
£0 to £249,999.99 |
0.35% |
|
£250,000 to £749,999.99 |
0.25% |
|
£750,000 to £999,999.99 |
0.15% |
|
£1m plus |
0.10% |
View previous charging structure
Reduced Product Administration Charges
- Product Administration Charges apply if your firm holds less than £75m in platform eligible assets on our Wrap platform
- We’re reducing our SIPP Product Administration Charge from 15bps to 5bps. This means that clients will never pay more than 40bps for their combined platform and product administration charge for their Wrap SIPP
- Product Administration Charges for Wrap Onshore and Offshore Bonds will remain unchanged
The value of an investment depends on the value of the underlying assets and can go down as well as up, and your client could get back less than they paid in.
Find out more
Speak to your usual Standard Life contact for more details on the pricing changes. If you don’t currently have an aligned Standard Life contact, send us an email.
There is no guarantee that any e-mail you send will be received or will not have been tampered with. You should not send personal details by email.
