RSMR has become the latest provider to remove VAT from its model portfolio service.
The ratings agency and MPS provider is removing tax from the 0.15% annual management charge across its 12 RSMR MPS portfolios, comprising three responsible portfolios and nine Active 2-10 portfolios.
RSMR director Ken Rayner (pictured) said: “We want to ensure that the RSMR MPS, comprising our best fund ideas and underpinned by our highly respected expertise and experience, remains a compelling solution to advice businesses.”
RSMR joins a growing number of MPS providers that have cut VAT from their services. Last week Charles Stanley announced it was cutting the tax, following similar moves by AJ Bell, Brooks Macdonald, Brewin Dolphin, Investec and Tilney Smith and Williamson.
See also: Advisers urged to look beyond headline cost as MPS price war intensifies
In September last year, RSMR revamped its sustainable and responsible investing ratings service and portfolios as simply “responsible” to better fit the changing environmental, social and governance investing landscape.
