Charles Stanley Direct overhauls charges

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Charles Stanley Direct has introduced a number of changes to its fees, which will favour clients with funds holdings over £250,000 while increasing stocks and shares charges for investors who do not trade monthly.

Under the stocks and shares changes, the minimum annual charge will rise from £20 to £24, while the maximum fee will rise from £150 to £240 for investors who do not trade monthly.

Clients who trade at least once in a calendar month will have platform fees waived.

Stocks and shares will face trade costs of £11.50, up from £10 that it was previously.

However, for the funds loyalty bonus system eligibility has been extended to clients with holdings of £250,000, half the previously required amount.

Under this scheme, platform fees have been reduced to 0.2 per cent for holdings up to £500,000, to 0.15 per cent for holdings between £500,000 and £1m, and to 0.05 per cent for holdings between £1m and £2m.

For holdings above £2m fees will be waived.

The changes will take effect from 1 November.