There will be additional savings on services for investors with more than £250,000 invested with us. The more money you invest, the larger the discounts we can offer:
Chelsea Platform charges
When you invest on the Chelsea Platform (supported by Platform One) there will be two separate annual fees:
- A fund management fee (typically 0.75% of your investment) which covers the investment company’s research and expertise looking after the fund, plus other costs associated with running a fund.
- A platform and service charge of 0.55% charged by the platform. This pays for access to more than 2,500 funds from approximately 150 companies, the platform administration and custodianship of your money. It also covers our service to you.
| Amounts between | Up to £250,000 | £250,000 and £500,000 | £500,000 and £1m | £1m and £2m | Over £2m |
|---|---|---|---|---|---|
| Platform and service charge | 0.55% | 0.475% | 0.40% | 0.35% | 0.12% |
These charges are by ‘bands’, not the overall portfolio. So, you pay 0.55% on the first £250,000 , and then 0.475% on the next £250,000, and so on.
Example
- If you have £50,000 on account with us, you will pay £22.92 per month
- If you have £750,000 on account with us, you will pay £295.88 per month
Charges for Junior ISAs
0% platform charge on Junior ISAs, on the Chelsea Platform.
Holding cash
You can opt to hold your savings as cash. This is a temporary position to shelter you from the market, and should not be viewed as a long-term investment strategy.
- Please contact us for up-to-date details of the interest paid on cash.
- We do not charge a service charge for you holding cash.
Charges for Pensions
There are no extra charges for holding a pension on the Chelsea Platform.
How will charges be taken?
There are two separate charges: the fund provider’s fee, and the platform and service charge.
The fund provider fee will still be taken directly from each fund in a portfolio.
The platform charge and the Chelsea service charge can be taken in one of three ways:
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1
The platform will automatically sell units proportionately across your assets
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2
You can instruct us to not sell from certain assets, effectively nominating a fund to sell down from
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3
You can add cash to your account to cover charges. Please note that money should have cleared on the account by the 1st of the month to ensure that units are not sold down.
How to add money to hold as cash
To avoid using your ISA allowance for charges you may like to consider topping up a General Investment Account (GIA).
Please note that pension charges are taken from within the pension.
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Log in to your account and set up a payment expectation and then make the payment by bank transfer. Remember to quote your ACN number when making the payment.
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Log in to your account and set up a regular payment expectation and then make the payment by standing order from your bank. Remember to quote your ACN number when making the payment.
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Alternatively, you can send a cheque to our offices. The cheque should be made payable to Platform One.
