EQ Investors, the B Corp wealth manager, has announced that it is reducing its annual discretionary fund management (DFM) charge with effect from 1st July 2020.
VAT will no longer be chargeable on its DFM Model Portfolio Service.
Its standard charge for the EQ Positive Impact Portfolios will be reduced from 0.35% to 0.33%.
For firms investing over £5 million with EQ, they are further reducing their DFM charges:
| Total assets managed by EQ: | EQ Future Leaders Portfolios |
EQ Positive Impact Portfolios |
| < £5 million | 0.25% | 0.33% |
| £5–15 million* | 0.20% | 0.30% |
| £15–30 million* | 0.15% | 0.25% |
| > £30 million* | 0.125% | 0.20% |
*These new charges will be available to all existing and new clients once a firm has reached a new tier.
Overall, this reduces the standard DFM charge for its flagship EQ Positive Impact Portfolios from 0.42% to 0.33%.
Damien Lardoux, Head of Impact Investing at EQ commented:
“As our sustainable DFM business has increased in size we are happy to be able to pass on some of our cost savings to our adviser community as more people align their investments with their values.”
John Spiers, CEO at EQ added:
“Our DFM proposition is growing strongly, with clients delighted both with the investment performance and the market leading quality of service, especially with regard to impact reporting. We are grateful for each partnership we form and are pleased to show our appreciation by reducing costs for clients which we fully understand is an important consideration for all advisers.”
