as of 25/02/2021 at 11:50 am
Customers choose AJ Bell Youinvest for drawdown because of their solid reputation and reasonable charges. Setting up drawdown is straightforward and easy-peasy, and their ongoing service is excellent.
AJ Bell Youinvest is a low-cost option for people who are comfortable with investing. There are loads of investment options – including individual shares and funds. It also has a range of low-cost all-in-one passive funds for those who want someone else to do the heavy lifting.
Charges start off at 0.25% for the platform, excluding any fund charges. This tiers down for large portfolios and there’s a cap on shares – the admin fee on any shares held will be capped at £10 a month from 2021. This tends to make them pretty cheap, whether you have a small or large portfolio containing shares or funds. There are fund and share dealing charges, £1.50 and £9.95 respectively, so there are cheaper options available for those that regularly invest small amounts into multiple funds.
From the 1st of January 2021, accessing your pension will be free, as AJ Bell have decided to remove the specific fees for drawdown events (such as ad hoc payments). This makes the costs of having a pension here easier to compute. There are no exit fees for cash transfers but they still charge exit fees for transferring investments in specie and are one of the few in the market to do so.
Large firm: manages £bns on behalf of investors and financial advisers
|Minimum amounts:||£1000 minimum lump sum investment.
"Good day, If I were to invest with A J Bell or Hargreaves Lansdown in a self select Stocks & Shares ISA and they were to 'go bust', what would happen to my investment? Thanks."
David, County Down
28/07/2020Read our reply
"Hi, I'm trying to choose an 80/20 low cost tracker fund to transfer my pension to, as I'm currently paying 1% fees to my provider which I want to save on. Does the performance of different tracker funds vary a lot (e.g. between PensionBee, Nutmeg, AJ Bell) and how do I compare their track records? Many thanks, Vivienne"
22/07/2020Read our reply
"I'm a newbie investor looking for a SIPP. I see AJ Bell have low fees compared to Hargreaves Lansdown. Is it worth the lower fees even though there are exit charges, or pay the higher Hargreaves Lansdown charges, but have no exit fees?"
20/04/2020Read our reply