This publication brings latest news of product and service offerings in the wealth management industry.

Raymond James Investment Services has unveiled a new tiered, bundled pricing model for its administration platform. 

The new model, which has four tiers with rates starting at 0.30 per cent and falling to 0.10 per cent for higher balances, replaces the 0.33 per cent flat rate option previously available.  

Under the new system, the custody charge falls for the portion of balances in each tier. The model allows wealth managers to link clients’ household accounts so that the tiers are based on the total relationship balance, the firm said.

This new tiered, bundled pricing option will run alongside Raymond James’ existing semi-bundled and unbundled charging models and will include up to 20 CREST and fund trades per year, averaged for all accounts operating under this pricing structure, it said.

The firm’s administrative platform includes a range of services that allows wealth managers to manage client portfolios and provide a range of wealth management solutions. This includes account opening, asset transfers, dealing and settlement services, trading systems, client reporting, research tools and access to the custodian. The platform also provides compliance, supervision and Financial Conduct Authority (FCA) authorisation services.