Alliance Trust Savings raises platform charges

Alliance Trust Savings (ATS) is increasing the annual administration fee for the platform by up to £35 from the start of February.

From 1 February, the administration fee will rise from £40 to £75, before VAT, for an ISA/Investment Dealing Account and from £135 to £155 for its self-invested personal pension, Select SIPP. Charges will remain at the new levels until 2016 at the earliest. ATS managing director Patrick Mill (pictured) said: "We remain committed to a transparent flat fee model as the value of an individual account does not change the cost of administering it. We believe percentage charging structures are simply a tax on wealth. "However, we have listened to feedback from our customers about the ser...