Coutts has today revealed details of its new advice fees – which will make the private bank to the Queen one of the most competitively priced wealth managers operating in the high-net worth space.

Clients will now be charged a one-off fee of £2400 (£2000 + VAT) for investment-only advice and £6000 (£5000 + VAT) for financial planning.

Camilla Stowell, the head of wealth management at Coutts, said this was the latest stage in a strategy to drive down costs for clients. This began in 2016 when the bank removed ongoing advice fees.

“Our ambition is to make advice accessible for as many clients as possible...