Here’s why the Raiz (ASX:RZI) share price is soaring today

The Raiz Invest Ltd (ASX: RZI) share price is climbing higher today. This comes after the mobile-first financial services platform provider announced a new fee structure for customers.

In afternoon trading, the company’s shares are up 4.85% to $1.73. Earlier today, the Raiz share price reached an intraday high of $1.80.

What are the fee changes?

Australian customers of Raiz might notice an increase in fees from 1 April 2021 for the micro-investing platform. However, not all of Raiz’s now over 340,000 active customers will be impacted.

If you use the company’s recent “Custom” portfolio, you can breathe a sigh of relief. The portfolio launched in January will retain its existing fee of $4.5/month on balances below $20,000,…