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Pricing scenarios

To help you compare the cost of holding and transacting investment companies and/or open-ended funds on various different platforms, the AIC has commissioned the lang cat to provide various pricing scenarios. These show what the annual costs would be of maintaining various portfolios on each platform. They include only the costs associated with the platform, not the underlying costs of the investment companies or funds themselves.

The tables are presented as heatmaps where green indicates a lower annual cost and red a higher annual cost. You can view the costs either in % terms (i.e. % of a client’s assets) or pounds.

All the heatmaps include ongoing platform fees, any additional wrapper charges and trading where appropriate. For portfolios of £50,000 or less, it is assumed that the client invests in an ISA. Above this level, it is assumed that the client’s investment is split between an ISA, general investment account and pension in the proportions 25/25/50%. For Raymond James, which does not have an on-platform pension, we have modelled usage of the AJ Bell Investcentre SIPP with £150 + VAT annual charge. Where rows of the table are left blank, this indicates the platform in question does not offer all the relevant investments (funds and/or investment companies) that are considered in that heatmap, so costs cannot be calculated. All data is based on publicly available charging structure information with some details verified via conversations with platforms.

100% investment in funds, outside a model portfolio
100% investment in investment companies, outside a model portfolio
50/50% split between funds and investment companies, outside a model portfolio
Model portfolio, 90% in funds, 10% in investment companies
Model portfolio, 50/50% split between funds and investment companies

Source: AIC/the lang cat (last updated 07/10/19)

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