The range of four multi-asset portfolios had a starting tier account fee of 0.3% for balances up to £250,000. Investors will now only pay fund charges.
The new “fee-free SIPP” structure will apply to both existing and new self-directed investors, the firm said.
Tilney Bestinvest, MD, Jason Hollands, said the removal of the fee helps to narrow the gap between a DIY approach and a professionally managed portfolio of typically 20 funds.
“While some investors enjoy running their own portfolios, many others find they neither have the time nor inclination to do so but cost has been a key deterrent to choosing a managed portfolio. We believe the new “fee-free SIPP” deal on our Ready-made Portfolios should help them square this circle and importantly the underlying investments are not restricted to index trackers, so there is no dumbing down of the investment content,” he added.
