UK adviser platform charges index

What eight adviser platforms charge a client at four portfolio sizes, from their own published charges.

Prepared by the Regulatory Counsel research team · Investment and wealth · Facts read 15 November 2026

Platform charges are one of the few costs an adviser chooses for the client, and the Consumer Duty expects the adviser to show the choice gives fair value. This index sets out what eight UK adviser platforms publish, and works out the annual platform charge for an ISA and GIA client at four portfolio sizes. Fund charges, adviser charges and discretionary manager charges are not included, because they do not depend on the platform.

Platforms assessed

Portfolio sizes compared

15 Nov 2026

Charges read

Paid placements

Annual platform charge by portfolio size

One adult client, ISA and general investment account, invested in funds. Lowest first at each size. The method and what is excluded are set out below the profiles.

Platform	£100,000	£250,000	£500,000	£1 million
AJ Bell Investcentre	£2000.20% · rank 1	£5000.20% · rank 1	£1,0000.20% · rank 1	£1,8750.19% · rank 2
Transact	£2720.27% · rank 2	£6620.26% · rank 2	£1,3120.26% · rank 6	£2,2520.23% · rank 5
Fidelity Adviser Solutions	£2950.29% · rank 3	£6700.27% · rank 3	£1,2950.26% · rank 5	£2,5450.25% · rank 6
Quilter	£3000.30% · rank 8	£6750.27% · rank 4	£1,1750.24% · rank 2	£2,0500.21% · rank 4
7IM	£3000.30% · rank 4	£7500.30% · rank 5	£1,5000.30% · rank 7	£2,7500.27% · rank 7
aberdeen Wrap	£3000.30% · rank 5	£7500.30% · rank 6	£1,2500.25% · rank 3	£1,7500.18% · rank 1
M&G Wealth Platform	£3000.30% · rank 6	£7500.30% · rank 7	£1,5000.30% · rank 8	£3,0000.30% · rank 8
Parmenion	£3000.30% · rank 7	£7500.30% · rank 8	£1,2500.25% · rank 4	£2,0000.20% · rank 3

Sorted by the £250,000 column. Each cell shows the annual charge, the charge as a share of the portfolio, and the platform's rank at that size.

Lowest at £100,000

1. AJ Bell Investcentre: £200
2. Transact: £272
3. Fidelity Adviser Solutions: £295

Lowest at £250,000

1. AJ Bell Investcentre: £500
2. Transact: £662
3. Fidelity Adviser Solutions: £670

Lowest at £500,000

1. AJ Bell Investcentre: £1,000
2. Quilter: £1,175
3. aberdeen Wrap: £1,250

Lowest at £1 million

1. aberdeen Wrap: £1,750
2. AJ Bell Investcentre: £1,875
3. Parmenion: £2,000

Platform profiles

AJ Bell Investcentre

Annual custody charge, tiered across the client's SIPP, ISA and GIA assets in the Funds & Shares Service.

Band	Rate
Up to £500,000	0.20%
£500,000 to £1m	0.175%
£1m to £1.5m	0.15%
£1.5m to £2m	0.075%
Above £2m	Nil

ISA and GIA: No administration charge
SIPP: £50, £60 or £70 a quarter plus VAT by fund value, waived when £200,000 or more is invested across SIPP, ISA and GIA
Dealing: Online deals £3.95 each; nil through bulk dealing, model portfolios and regular investment.
Our cost figures exclude dealing charges, which depend on how often and how the adviser trades.

Sources: AJ Bell Investcentre charges and rates (effective 2 December 2024); AJ Bell Investcentre: customer charges examples

Transact

Annual charge on a sliding scale across the client's portfolio, plus fixed quarterly wrapper fees.

Band	Rate
Portfolios under £100,000: first £60,000	0.50%
Portfolios under £100,000: £60,000 to £100,000	0.26%
Portfolios of £100,000 and above: up to £600,000	0.26%
£600,000 to £1.2m	0.17%
£1.2m to £5m	0.07%
Remainder	0.05%

GIA: £0
ISA and Junior ISA: £3 a quarter
SIPP and personal pension: £20 a quarter
Onshore bond: £18 a quarter
Offshore bond: £60 a quarter
Dealing: Standard dealing up to £3.75 per transaction; phased buys up to £1; regular transactions up to £0.50.
Our cost figures include one ISA wrapper fee (£12 a year) and exclude dealing charges.

Source: Transact charges schedule, M007 version 42, June 2026

Fidelity Adviser Solutions

A flat Service Fee on investments held, plus a fixed annual Investor Fee per client.

Band	Rate
All values	0.25% Service Fee
Per client	£45 a year Investor Fee

ISA, Investment Account and pension: Covered by the Service Fee and Investor Fee
Dealing: Charges for exchange traded investments are set out in Fidelity's client guide.
Our cost figures include the £45 Investor Fee for one client.

Sources: Fidelity: client guide to fees and charges; Fidelity Adviser Solutions: advisers' charges and fees guide

Quilter

Tiered service or product charge on the total amount invested.

Band	Rate
First £50,000	0.35%
£50,000 to £250,000	0.25%
£250,000 to £750,000	0.20%
Above £750,000	0.15%

ISA, Junior ISA, Collective Investment Account, pension and bond: Same tiered rates; no separate wrapper fee published
Dealing: Exchange traded investments carry a dealing charge; the amount is not stated on the charges page.
Quilter keeps part of the interest on cash instead of charging on cash.

Source: Quilter: platform fees and charges

7IM

Onshore platform service fee, tiered, charged monthly on non-cash assets.

Band	Rate
First £500,000	0.30%
£500,000 to £1m	0.25%
£1m to £2m	0.15%
£2m to £5m	0.08%
Over £5m	0.05%

ISA: No additional charge
SIPP: £0 administration, or £100 plus VAT for SIPPs below £75,000; income payments £135 a year plus VAT
Dealing: Foreign listed securities £25 per trade.
7IM funds carry 0.25% outside the tiers, and 7IM model portfolios add 0.15% to 0.25%.

Source: 7IM: platform fees and charges

aberdeen Wrap

Tiered platform charge on platform eligible assets, across all products.

Band	Rate
£0 to £250,000	0.30%
£250,000 to £500,000	0.20%
Above £500,000	0.10%

ISA, GIA and SIPP: No separate product charge
International Portfolio Bond: 0.12% a year product administration charge
Dealing: No withdrawal or transfer out charges; dealing charges are set out in the Wrap charges guide.

Sources: aberdeen: Wrap charges and interest rates; aberdeen: Wrap charges guide

M&G Wealth Platform

One platform price on investments held, with a minimum of £15 a month.

Band	Rate
Up to and including £1m	0.30%
£1m to £3m	0.10%
£3m to £5m	0.06%

SIPP and drawdown: No SIPP or drawdown fees
ISA and GIA: No separate wrapper fee
Dealing: No model portfolio fees and no exit fees.

Source: M&G Wealth Platform: pricing and charging

Parmenion

Custody charge on a cliff edge basis: once total assets reach a band, that rate applies to all of them. Minimum £5 a month per adult client.

Band	Rate
Total assets under £300,000	0.30%
£300,000 to £600,000	0.25%
£600,000 to £1.5m	0.20%
£1.5m and above	0.15%

SIPP: £18 plus VAT a quarter
ISA and GIA: No separate wrapper fee published
Dealing: DFM and model charges apply where the adviser uses Parmenion's investment solutions.
Because the band rate applies to the whole portfolio, the charge can fall when a portfolio crosses a band.

Source: Parmenion: our charges

How the index is worked out

Charges are taken only from each platform's own published charges page or schedule, read on 15 November 2026. Where a platform publishes several products, we use its open adviser platform proposition.
Each figure is the annual platform charge for one adult client holding an ISA and a general investment account, invested in funds, with no cash. Tiered charges are applied to each slice of the portfolio; Parmenion's cliff edge bands are applied to the whole portfolio, as Parmenion publishes them.
Fixed per client or per wrapper fees are included where they apply to an ISA or GIA client: Transact's ISA wrapper fee and Fidelity's Investor Fee. SIPP fees are shown in each profile but not in the totals.
Dealing charges, fund charges, model portfolio and DFM charges, adviser charges and interest kept on cash are excluded, because they depend on how each adviser uses the platform. A platform with low headline charges can cost more once these are added.
Platforms that do not publish a complete charge schedule we could verify on the day are not included in this edition. Discounts negotiated by adviser firms or networks are not reflected.

No platform pays to appear in this index, and none is left out for not paying. A platform that wants a correction can send its published source to info@regulatorycounsel.co.uk.

Frequently asked questions

Which adviser platform is cheapest?

On published charges for an ISA and GIA client, AJ Bell Investcentre has the lowest platform charge at £100,000, £250,000 and £500,000 in this edition. At £1 million, aberdeen Wrap is lowest at £1,750 a year, with AJ Bell Investcentre next at £1,875. That excludes dealing charges, which AJ Bell levies at £3.95 per online deal outside its model and bulk dealing services, and other costs that depend on how the adviser uses the platform.

What do adviser platforms typically charge?

Across the eight platforms in this index, the annual platform charge for a £250,000 ISA and GIA client ranges from £500 to £750, or 0.20% to 0.30%. At £1 million the range is £1,750 to £3,000.

What is a cliff edge platform charge?

A charge where the rate for the band the total portfolio falls in applies to the whole portfolio, rather than to each slice. Parmenion charges this way. It means the total charge can fall when a portfolio moves into a lower rate band.

Do platform charges include fund and adviser charges?

No. Platform charges cover administration and custody. Fund charges, adviser charges and any discretionary or model portfolio charges are paid on top, and the total cost of ownership is what matters for the client.

How should advisers use a platform charges comparison?

As one input to platform due diligence and the Consumer Duty fair value assessment. Advisers should also assess functionality, service, financial strength, investment range and how the platform treats interest on cash, and record why the chosen platform suits each client segment.

This index is general information as at 15 November 2026 and is not advice on choosing a platform. Confirm charges with each platform before relying on them.