Charles Stanley Direct hits out at 'anti-competitive' exit fees

clock

Charles Stanley Direct is considering an extension of its exit fee waiver and has hit out at rivals' high transfer charges as being ‘anti-competitive.'

The direct platform recently revealed it would be waiving both its platform charge and custody fee over the next six months in order to help investors offset the cost of other providers' exit fees. Additionally, the platform committed to waiving its own exit fees of £10 per line of stock or fund holding for one year - an offer which the platform now says may be subject to an extension. Charles Stanley Direct head of press and public relations Magnus Wheatley said exit fees in the direct-to-consumer space are in danger of harming competition and that the platform would look at extendin...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

P1 Platform halves drawdown fees to ease cost pressures on advisers

P1 Platform halves drawdown fees to ease cost pressures on advisers

Enabling firms to extend advice and investment services to a broader range of clients

Sahar Nazir
clock 11 November 2025 • 2 min read
Advised platform AUM tops £711bn in Q3 with new business hitting 'all-time highs'

Advised platform AUM tops £711bn in Q3 with new business hitting 'all-time highs'

Headed towards a ‘record-breaking year’

Jenna Brown
clock 06 November 2025 • 2 min read
Embark 'working to resolve delays' after advisers flag transfer backlogs

Embark 'working to resolve delays' after advisers flag transfer backlogs

One client was unable to complete £400,000 pension transfer for over two months

Sahar Nazir
clock 03 November 2025 • 3 min read