How do Cofunds' unbundled charges stack up?

Cofunds has today announced its new unbundled charging structure which will launch around the middle of next year alongside the bundled model. But is the supermarket offering a good deal for clients?

Cofunds

Cofunds has revealed its new unbundled charging structure which includes a £40 annual charge and a sliding scale platform fee ranging from 0.29% to 0.15%, charged monthly to the cash account.

Investors with assets worth up to £100,000 will be charged 0.29%; between £100,001 and £250,000 this falls to 0.26%; between £250,001 and £500,000 at 0.23%, between £500,001 and £1m the charge will be 0.2% and over £1m the charge will be 0.15%.

Ascentric

Annual platform charges of £60 + 0.15% for funds up to £60,000, 0.25% on balances between £60,000 and £1m, 0.10% on balances between £1m and £3m and further discounts available on balances exceeding £3m. Trading charges are £12.50 per electronic deal and £20 for non-electronic, discounted in model portfolio arrangements

Nucleus

Client holding annual wrap charge that applies to each tier of the client holding
Up to £1m 0.35%
£1m to £2m 0.30%
£2m to £3m 0.25%
£3m to £5m 0.20%
More than £5m 0.15%

The lowest tier charge of 0.35% is accrued daily on the whole portfolio and debited from cash each month. Any rebate associated with larger portfolios will be calculated quarterly and credited to your accounts on a pro-rata basis. The Nucleus Offshore Bond account is subject to an initial wrap charge of £100 and an additional annual wrap charge of 0.15% per annum while the Nucleus Onshore Bond account is subject to an additional annual wrap charge of 0.10% per annum. Initial fees are calculated as a percentage of the payment value and is deducted when the payment is allocated to the account. Trail fees are expressed as a percentage and is accrued daily and debited from cash each month.

Transact

Transaction commissions
All asset purchases are charged at 0.2% of the value of the asset. For portfolios of £1m or more in value this is reduced to 0.1% (providing a 50% discount). For portfolios in excess of £2 million all of this charge is rebated to the client (providing 100% discount).

Annual commissions
There are different rates of annual commission for investment assets and cash. Investment Assets - maximum 0.55% per annum. Cash - maximum 0.45% per annum.

The following discounts apply to the above Annual Commission rates:
Premium Discounts

Premium discounts apply where the total value of a Portfolio has been at least £60,000 for 1.) The whole of the preceding three months, or 2.) The period since the Portfolio was opened, whichever is the shorter.

Premium discounts are applied on a sliding scale depending upon the value of the Portfolio over a set period.

* On the first £60,000 of Portfolio value - Nil
* On the next £120,000 of Portfolio value - 15%
* On the next £120,000 of Portfolio value - 25%
* On the remainder of Portfolio value - 35%

Platinum Discounts (for portfolios in excess of £300,000)
Platinum discounts apply where the total value of a Portfolio has been at least £300,000 for 1.) The whole of the preceding six months, or 2.) The period since the Portfolio was opened, whichever is the shorter.

Platinum discounts are applied on a sliding scale depending upon the value of the Portfolio over a set period.

* On the first £600,000 of Portfolio value - 35%
* On the next £600,000 of Portfolio value - 60%
* On the remainder of Portfolio value - 85%

Wrapper Charges

* General Investment Account - Establishment fee: Nil, Annual payment: Nil.
* SIPP, PPP, EPP, S32 - Establishment fee: Nil, Annual payment: £20 per quarter.
* ISA - Establishment fee: Nil, Annual payment: £3.00 per quarter.
* Offshore Bond - Establishment fee: £150, Annual payment: £60 per quarter.
* Onshore Bond and QSP - Establishment fee: £100, Annual payment: £18 per quarter.