You are here: Home - Investing -

AXA waives annual fees until May 2015 under new pricing structure

Written by:
AXA has revealed the new pricing structure for its do-it-yourself investment platform, days after the UK's biggest fund broker, Hargreaves Lansdown, announced it was cutting fees.

AXA’s Self Investor service will charge customers an annual fee of 0.5% from 1 May 2015, which equates to £50 a year on a £10,000 investment.

This is compared to Hargreaves, which will charge most customers 0.45% a year.

However, AXA is waiving its fee until May 2015 for new customers who open a stocks and shares ISA but who invest before 6 April 2014, regardless of how much is invested.

DIY investment platforms such as Charles Stanley Direct, Interactive Investor and Hargreaves Lansdown have been revealing their new fee structures ahead of April 2014, the deadline for when all new customers’ money must be put in commission-free or ‘clean’ funds.

Fidelity will be the next to announce its fee structure tomorrow.

Last week, Hargreaves Lansdown, which has 500,000 clients, announced that from 1 March it would charge annual fees of 0.45% for investments of up to £250,000, 0.25% for investments of between £250k-£1m, and 0.1% for investments over £1m.

Hargreaves said its new fund charges would save its clients £8m a year in total.

AXA launched the Self Investor platform last year for financial advisers wanting to offer execution-only services to their clients. This is the first time the company has marketed to the consumer directly.






Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape for summer, and moving your cash savings to a higher paying deal is ...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
PPI will drive 20% surge in compensation claims

The Financial Services Compensation Scheme (FSCS) expects to see a 20% increase in new claims over the coming year driven...