Coutts has brought costs down for its clients as its platform fee starts at just 0.15% for investments up to £1m ($1.3m).

Previously, the entry-level charge was 0.35%.

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In addition, the proposition simplifies the existing offer. It sees Coutts reduce the ongoing charage for its Personal Portfolio Fund (PPF) up to 0.1%. The PPF, since its launch in 2016, has grown to hold £750m in AuM.

“As we have grown our business by advising and investing for more clients across the organisation, we have achieved ongoing process improvements and efficiencies which ultimately mean we can share these benefits of scale back with our clients,” said Camilla Stowell, head of client coverage at Coutts.

“The new tariff will be one of the lowest for an investment platform in the UK marketplace. By further improving our pricing, we believe that ultimately there is even more reason for clients to consolidate investment assets with us. Cost should never be a barrier to those wishing to invest, so by reducing it wherever we can and making our investments more accessible we will be able to support more clients to ensure their wealth has its intended consequences.”

Stowell added: “Investment platforms, on which the investment solutions reside, need to be straightforward and functional, which is why we have announced these latest changes. Delivering great investment performance and the highest quality service whilst covering platform costs with a modest margin is the core focus for our organisation. By doing so, we will build trust and long term relationships with clients. By being simple and transparent will allow us to share the benefits for both our existing clients and customers across the wider NatWest Group.”

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Peter Flavel, Coutts CEO, stated: ““We’re obviously very proud of the continued growth of our AuM and because of it, we have been able to re-evaluate our Investment Platform Tariff and pass on the benefits of increased scale and efficiency to our clients. In tandem, this aligns with our purpose of championing potential by significantly reducing cost which is a perceived barrier to investing and in turn, position ourselves even better for helping tackle the UK savings gap. To do so, we must raise awareness of proper financial planning, the importance of paying down debt and the practicalities of investing for one’s future.”