UK-based Raymond James Investment Services has launched a new bundled pricing model on its administration platform.

The new bundled price is charged at a flat rate of 0.33 per cent based on total assets, and includes fund and CREST trades as well as account maintenance. The bundled pricing model will run alongside Raymond James’ existing semi-bundled and unbundled charging models, the firm said.

“Our new bundled charging model has been tested and received well - it fills the gap in our charging structure and enables wealth managers to segment their client base and manage portfolios for high net worth and smaller investors through the one platform. This sits well with the FCA’s view that wealth managers need to find the best solution for each client segment. Our new bundled pricing model enables investment managers to better manage portfolios for the smaller accounts today, as they grow into larger accounts tomorrow,” said Peter Moores, chief executive of Raymond James.

“Offering three different platform pricing models is unique, making our charging approach highly competitive and transparent. Wealth managers set their own charges for management fees, which can be on a tiered or flat basis, as well as brokerage charges, initial charges, financial advice and planning fees, giving them full flexibility for their charging structure with their clients.”

In other recent developments, earlier in the year RJIS's US-based parent group Raymond James rolled out a new compensation model aimed at financial advisors with at least $100 million in discretionary client assets under management.