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Spitfire launches no-fee product

By Eliot Hastie
2 minute read

In a market first, Spitfire will go to market with a no-tiered administration fee on its new IDPS product.

The innovative technology firm that provides a wealth and digital platform for the industry is introducing a new flat dollar fee account in April. 

The new rate card, which has a flat dollar keeping fee of $495.00 per annum, will be launched with its new IDPS platform this April. 

Spitfire’s current market offering is a wealth and digital platform ecosystem that allows advisers to deliver a consolidated client wealth view of any asset, in any market, at any time. 

Head of distribution for Spitfire David Storm said that the company was ideally positioned to offer a product such as this. 

“Spitfire is ideally positioned to create ‘clean products’, unencumbered by conflicted, legacy financial arrangements that are not in the client’s best interest,” he said. 

Mr Storm said that advisers were looking for solutions that allowed them to access markets around the world, and Spitfire was that solution. 

“We find advisers are increasingly looking for a platform solution that enables them to create a customised managed account solution across any asset, in any market. 

“Our internal trading desk facilitates an ‘end-to-end’ user experience across global markets with live execution,” Mr Storm said.

Spitfire recently announced a technology alliance with Volt Bank which would allow its clients to access the neobank’s soon-to-be launched deposit products. 

At the time of launch, Mr Storm said that the partnership would bring wealth management into the 21st century. 

“Spitfire is changing the game in wealth management, and our cloud native platform will deliver unmatched transparency, flexibility and functionality to Volt’s customers in a secure environment.

“This partnership is a tremendous step in bringing wealth management into the 21st century, and in allowing planners and advisers to act in the best interests of their customers,” Mr Storm said.