Zurich cuts initial platform charge in fee structure revamp

Zurich has overhauled its platform fee structure and announced a cut in its initial investment charge for all clients.

The insurer said on Thursday it has removed one of its platform's five tiers and cut the starting charge from 0.45% to 0.35% per annum. The move comes after Zurich said last week it does not intend to participate in a platform price "race to the bottom" but wants to focus on offering value to its customers instead. The change announced on Thursday will see a price reduction "for every investor regardless of the size of their investment", Zurich said. "A customer with less than £50,000 invested will benefit from a reduction of almost a quarter of their ongoing platform cost", it add...