Fee hike: Rplan will stop serving customers on April 20 to focus on businesses instead
Thousands of investors with accounts held by fund supermarket rplan will see charges double next month when they are moved to a rival.
Rplan will stop serving customers on April 20 to focus on businesses instead.
Investors who do not transfer funds by then will be moved to Cofunds’s Investor-Direct Service, which charges an annual fee of up to 0.7 per cent of total investments — twice rplan’s fee.
Rplan has written to customers to inform them of the change and will issue reminders.
Those who miss the April deadline can still leave Cofunds penalty-free by opening an account with another firm, which will carry out the transfer process on their behalf.
How to find anew investment platform
In our best DIY investing platforms round-up, we explain who they are good for and why we have picked them.
We have also created a tool to help you compare the best DIY investing platforms and online brokers with our partner BrokerCompare.
You can select how you want to invest, whether in a general account, Isa, Sipp or combination of these, and how much you will invest and how often you are likely to buy and sell funds and shares.
It will then do the calculations to show you which DIY investing platforms and online brokers look like the best deal for you. Try it and if you have any feedback on it, please email firstname.lastname@example.org.