For a long-lived major wealth manager like Fidelity Investments, the numerous fee structures applied to customers is a Gordian knot, complex and difficult to loosen and untie.

Like Alexander the Great, who solved the Gordian knot with a stroke of his sword, the Boston-based financial firm proposes to cut through its complicated fee structure with a simple solution: Beginning in July, all of its accounts will be charged an asset-based fee tied to how much a client invests with Fidelity, according to a report in Wednesday’s Wall Street Journal.

Previously, Fidelity used a mix of AUM, client investment preferences and level of customer service to determine fees applied to an account.

The move is the latest fee reduction announced by Fidelity, which has also recently lowered the fee of its Fidelity Go robo-advisory service to 0.35 percent, according to the report. Fidelity is also experimenting with different fund fee structures overseas, including a “fulcrum fee” linked to investment performance and another fee structure in which mutual fund fees decline as investors hold Fidelity products for longer.

Fidelity follows in the footsteps of Merrill Lynch, which moved to clarify its fee structure in 2016 in anticipation of the enforcement of the Department of Labor’s fiduciary rulemaking.

With the DOL’s fiduciary rule in limbo following a court decision striking down the regulation, it appears that at least some of the industry changes regarding fees and services will continue.

According to the Wall Street Journal, under the new regime some customers will end up paying more than they would today, while others will pay less. Fidelity will offer waivers to current customers to ensure that their costs will not increase, thus, those who already work with the firm will either pay the same or less than they do now, the company said.

For example, new customers with less than $200,000 in assets investing in portfolios comprised entirely of Fidelity funds pay 1.7 percent today, but under the new fee structure would be charged 1.5 percent, according to the news report.

On the other hand, the Wall Street Journal notes that a new customer with $1 million investing in a model portfolio combining Fidelity and non-Fidelity funds would have paid a blended gross fee of 1.05 percent under the old system, but would pay 1.175 percent under the new fee structure.