InvestSMART has announced that its Professional Managed Account (PMA) platform will deliver investors fees of no more than $451 a year, regardless of how much they invest.
Describing the pricing move as an industry-first pricing model that will enable advisers to offer their clients access to diversified portfolios at a fraction of the cost, the company said fees would start at $99 per annum for clients with lower balances of $10,000 to $18,000, capped at $451 for those who invested over $82,000, excluding brokerage costs and indirect costs.
It said that investors could also benefit from low brokerage costs of $5.50 or 0.11 per cent (whichever was greater) on buys and sells.
Commenting on the pricing structure, InvestSMART chief executive, Ron Hodge said the company knew from its discussions with financial advisers that servicing a broad range of clients in a cost-effective way was an ongoing challenge for the industry.
“This platform can assist advisers in delivering personalised service and value for money to all, from lower balance clients through to the more sophisticated.”