The zero fee is applicable across all of the group’s stand-alone Qrops products, including Australian and US Qrops.
It also includes the Qrops SMART – the specialist financial services group’s one-stop packaged solution that incorporates a life bond issued by STM Life.
In addition, the Aim-listed group has also reduced the annual trustee fee of its stand-alone Qrops products.
Full transparency
The primary driver for the change is STM’s commitment to offering a fully transparent, all-inclusive structure rather than a menu of costs that they believe can significantly push up published rates.
This concept has been carried through to the Qrops SMART to include all custody and dealing fees.
The bond fees within the SMART packaged solution have also been revised following positive feedback and uptake on the recently launched STM Life Portfolio Bond.
100% transparent
Iain Farr, head of group distribution, STM Group, said: “Our challenge was to establish a price point that allows our pricing structure to remain 100% transparent while still continuing to be one of the small number of Qrops providers that do not charge additional fees.
“This will ensure our traditional strengths of service, expertise, and unique products are complemented by a compelling price point that will help the group to deliver substantial new business and annuity income.”
