Tiered charging against Circle

My firm’s ongoing charges are based on a tiered structure for a household based on the total AUM from the whole household. I believe this is becoming a more common way of charging following Consumer Duty, so will be surprised if I am the only one doing this.

I need to be able to apply a charge to a plan based on

  • the full “advised” AUM of the household, rather than just the plan value

  • calculated using a tiered scale (e.g. first £500k at 1%, the next £500k - £1m at 0.70%, above £1m at 0.50%), rather than just a single static number

I currently create a Circle for every household or grouping of accounts I report and/or charge on. So this request is for charging against a circle, with the ability to use a tiered fee structure.

Area of the system
Circles, Income Reconciliation

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Status

Accepting Feedback

Board
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Feature Request

Date

7 months ago

Author

Francois van der Merwe

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