ANNOUNCEMENT: Changes to our charging structure
We’re making changes to how we charge for our products and services.
The changes we’re making are in line with our on-going strategy to position James Hay as a retirement focused platform.
The pension market has seen remarkable changes in both regulation and legislation recently, which have resulted in increases in the costs associated with administering pensions. We need to respond to those changes whilst continuing to develop flexible products, enhance systems and improve our service, which is our priority.
A breakdown of the changes can be found here, but based on our average Modular iPlan portfolio size, when taken altogether, the change will result in an average annual increase of around 0.036 percentage points.
Why James Hay?
The reasons financial advisers and/or investors chose James Hay are as valid after these changes as they were when they first came to us. Over 35 years we have consistently been a steady ship in choppy waters. The course we’ve steered has proven to be the right one and we’ll continue on that course.
While any price increase is unwelcome, we’re confident this is the right thing to do. And let us be clear, these changes have very little impact on our competitive pricing position against our peers. We are still well priced – especially for our core market.
For more details on the changes click here