Nationwide has revealed its investment advice charges that it will charge in the new ‘RDR era’. The building society is to present an initial 3 percent charge to clients in addition to a 0.5 percent ongoing fee, no matter how much a customer is investing.
According to Moneymarketing, the same charge will also be present to those buying advice for an annuity.
Any investments made by customers on the Cofunds platform, Nationwide will be charging the following amounts:
Up to £11,000 – subject to a 0.65 percent platform charge
Between £11,000 – £20,000 – subject to a 0.29 percent platform charge
Over £20,000 – 0.24 percent platform charge.