Credit Suisse First Boston, the US brokerage unit of Credit Suisse, is raising its fees to 2.5 per cent from 2 per cent of assets for new cl...

Credit Suisse First Boston, the US brokerage unit of Credit Suisse, is raising its fees to 2.5 per cent from 2 per cent of assets for new clients with less than $1 million under management, according to a report by Dow Jones Newswires.

The move is designed to push its advisors to focus more on affluent clients. The new fee, which took effect last week under the firm's Private Advisory Program, is for outside managers who run wrap fee segregated accounts for different broker dealers, the report said.

CSFB has been focusing more on high net worth accounts in preparation for its integration with Credit Suisse Group in January under the one-bank strategy.

Last month, the firm sent its branch managers to Switzerland to immerse them into the Swiss mother firm's culture and orient them further into its private banking operations for affluent clientele, according to the DowJones report.