AMWatch

Nordnet starts new price war with banks over pension savings

Digital investment platform Nordnet is employing low price tactics to steal clients from the pension products offered by banks. This could shake up the competition, says one advisor.

Anne Buchardt, country manager for Denmark at Nordnet | Photo: Brian Karmark/ERH

Stockholm-based Nordnet has moved into the battle for the DKK 140bn (EUR 18.8bn) in pension savings held by Danish banks.

It has introduced three funds, which like the banks’ pension products offer equities, bonds and, occasionally, alternative investments – but the 0.5% annual fee is less than half of what the banks charge.

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