Fee hike: Rplan will stop serving customers on April 20 to focus on businesses instead
Thousands of investors with accounts held by fund supermarket rplan will see charges double next month when they are moved to a rival.
Rplan will stop serving customers on April 20 to focus on businesses instead.
Investors who do not transfer funds by then will be moved to Cofunds’s Investor-Direct Service, which charges an annual fee of up to 0.7 per cent of total investments — twice rplan’s fee.
Rplan has written to customers to inform them of the change and will issue reminders.
Those who miss the April deadline can still leave Cofunds penalty-free by opening an account with another firm, which will carry out the transfer process on their behalf.