abrdn Adviser has announced the removal of the product administration charge for SIPP and Onshore Bond products for all new and existing clients on its Wrap platform, effective immediately.
In addition, standard platform charges for existing Wrap clients have been reduced, aligning them with the pricing structure introduced for new clients last year.
The updated fee structure simplifies charges and enhances value for clients across all portfolio sizes. Key changes include:
- A reduction of at least 5 basis points (bps) across all tiers up to £1m.
- A 15 bps reduction for portfolios between £500,000 and £750,000.
- A streamlined charging structure with one fewer tier.
- The removal of the Product Administration Charge on Wrap SIPP and Onshore Bond products.
Noel Butwell, CEO at abrdn Adviser, highlighted the company’s commitment to delivering competitive pricing and enhanced services.
“Last year, I committed to rolling out our simplified and reduced pricing to all Wrap clients by the end of Q1 2024. We are now delivering on that promise, offering our most compelling pricing ever while continuing to invest in service and new solutions.”
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He also noted key developments, including the Money Market MPS, integrated cash solutions, and the ESG Hub, with further enhancements planned this year, such as the launch of the abrdn SIPP.
“Our scale allows us to deliver better value, and we will continue to review our offerings to ensure we meet client needs,” he added.
