7IM to scrap VAT from MPS range from February

All-in cost of 0.25% for 7IM Active portfolio

7IM will stop applying VAT on the group's managed portfolio service (MPS) from 1 February.

The changes mean the 7IM Active and Passive model portfolios will have an all-in cost of 0.25% going forward, while the Bespoke model portfolios range between 0.25%-0.30%. The 7IM Pathway model portfolio range remains at a cost of 0.15%. The price changes will come into effect as of 1 February 2021 and apply to the model portfolios available to advisers through the 7IM platform as well as third party platforms. Brooks Macdonald scraps VAT from MPS range Verona Kenny, managing director on Intermediary said: "The removal of VAT will make our already competitively priced model portfol...