Fees calculator assumptions

Warning: reading this page may cause you to lose the will to live!

Comparing charges across providers can be tricky as each provider has a different set of fees and the way they apply their fees differ. As a result, we have detailed below the core assumptions we have used in order to compare charges across platforms. We apologise in advance for the complexity of this – don’t shoot the messenger!

Overall assumptions

Charge Calculations

• All charges relate to annual costs, with no investment growth

• Fees are deducted from a separate cash balance, with no effect on investment value

• Platform charges represent administration fees only as specific investments are unknown

• Admin charges are taken monthly (total charge = 12 monthly charges)

• No temporary promotions or discounts are included in the calculations

Investment Assumptions

• We have assumed funds are held on the platform

• Where funds are unavailable, we've modeled prices for ETFs

• If ETFs are unavailable, we've calculated direct share purchase costs

• Robo-adviser charges include both admin and investment fees (not directly comparable)

Trading Information

• Share trades include other exchange-traded investments (Investment Trusts, ETFs, bonds)

• Robo-advisers are categorised under funds (won't display if the user selects shares only)

• Share trading fees exclude stamp duty and PTM levy

• For combined accounts, trade numbers represent total trades across all accounts

• When trading commissions differ between accounts, the highest rate is applied

Pension Notes

• Calculations assume accumulation phase for pensions

• Drawdown-related charges are not included

Default trading assumptions

To keep the calculator as simple as possible, we created default trading assumptions based on average investor behaviour according to portfolio sizes.

Fund and Share trading assumptions:

• Less than £10k invested in funds: 1 trade

• £10k to £50k investment in funds: 2 trades

• £50k to £100k investment in funds: 4 trades

• £100k to £250k investment in funds: 6 trades

• Over £250k investment in funds: 8 trades

Individual provider assumptions

AJ Bell Youinvest 

The £1.50 fund dealing fee has not been modelled in the calculations. This would apply to any fund purchase except an AJ Bell own-brand fund, which is free to purchase.

Charles Stanley Direct 

We have assumed you're using third-party funds, not Charles Stanley's own multi-asset funds. This means we've included:

• The minimum £5 monthly fee

• Any trading costs that exceed the free £50 trading allowance provided every 6 months

CMC Invest

We have not factored in the offer of ‘no account fees’ on SIPPs for the first 12 months.

Fidelity

We've assumed you're making a lump sum investment rather than using a regular savings plan:

• Portfolios under £25,000: flat fee of £90 (with no regular savings plan)

• If you set up a regular savings plan: fee drops to 0.35%

Freetrade

• ISA: We've used the annual plan (£59.88) instead of monthly payments (£5.99/month = £71.88/year)

• Pension: We've used the annual plan (£119.88) instead of monthly payments (£11.99/month = £143.88/year)

HSBC My Investment

Fees are based on HSBC Global Investment Centre, which is the bank’s fund trading platform.

Interactive Investor  

ISA Accounts

We've based our calculations on two different plan types depending on your investment amount:

• For accounts under £50,000, we've used the "Investor Essentials" plan

• For accounts over £50,000, we've used the "Investor" plan, which includes a yearly trading credit of £47.88 with trades being phased throughout the year (£3.99 per month)

Pension Accounts

Similarly, we've applied different pension plans based on your investment amount:

• For accounts under £50,000, we've used the "Pension Essentials" plan

• For accounts over £50,000, we've used the "Pension Builder" plan

Please note that we haven't included any potential discounts you might receive through the "Friends & Family" referral program, so your actual costs could be lower if you qualify for these benefits.

IG

Our calculations are specifically based on IG's Smart Portfolio service, which offers five professionally managed portfolios designed by BlackRock and managed by IG.

This pricing structure is entirely separate from IG's share dealing platform, which operates under a different fee schedule. The costs we've presented reflect only the Smart Portfolio service fees and should not be confused with IG's standard share dealing charges.

Lightyear

Following our standard methodology, we've assumed your portfolio consists of ETFs rather than individual shares. Since Lightyear offers free ETF trading, we've modeled your trading costs as £0, instead of applying the £1/$1 share dealing fee that would apply to individual stock purchases.

InvestEngine

We have based the calculator on the free ETF open platform offering. Investments in InvestEngine’s Managed or LifePlan portfolios come with a 0.25% provider fee, plus fund charges that average 0.12%.

Moneybox

ISA Accounts

For our ISA calculations, we've assumed your investments are held in Moneybox's Balanced Starting Option, which carries fund fees of 0.17%. Additionally, we've included Moneybox's standard platform charge structure that applies to all fund choices:

• £1 per month base fee

• Plus 0.45% of assets under management

Pension Accounts

For pension calculations, we've based our figures on investments in the BlackRock LifePath Retirement Starter Fund, which is available through Moneybox's pension platform.

Moneyfarm

We've based our calculations on Moneyfarm's Managed ISA with specific features:

• "Fixed" management style

• "Classic" investment focus

It's important to note that these calculations do not apply to Moneyfarm's DIY ISA option, which allows investors to select their own stocks and funds from the open market. The DIY ISA operates under an entirely different fee structure than what we've presented in our analysis.

Plum

We've based our calculations on Plum's Core Portfolio with the following specifics:

• Balanced fund option selected

• A monthly subscription fee of £2.99 included

• 0.45% annual management fee added separately

Nutmeg 

• We have selected the Fixed Allocation portfolios.

PensionBee

• We have selected the Tailored plan.

Santander Digital Adviser

Our platform fee calculations are based on Santander's Investment Hub service, which provides you access to:

• Santander's own investment funds

• A range of third-party funds

Please note that if you choose to use Santander's Digital Adviser service—which helps you select an appropriate option from Santander's four ready-made investment funds—there is an additional £20 fee. This supplementary service cost is separate from the standard platform fees we've calculated.

Saxo

Following our standard methodology, we've assumed your portfolios are invested in mutual funds rather than listed securities (such as individual stocks or bonds).

Tillit

For ISAs, first year fees of 0.40% have been assumed in the calculator.

Vanguard

We've assumed your investments are held in standard Vanguard funds rather than Vanguard's Managed ISA service. Because of this, we've included the minimum fee of £4 per month in our calculations.

This minimum fee particularly affects smaller portfolios—specifically those under £32,000

Wealthify

We have based the fees on Wealthify’s “Original” plan cost.

All other providers 

No additional assumptions.