Popular fund platform hikes fees

Investment platform AJ Bell Youinvest has announced fee increases that could see some customers pay substantially more.

Investment platform AJ Bell Youinvest has announced fee increases that could see some customers pay substantially more to hold investments with the company. The firm has won acclaim as one of the cheapest and most comprehensive providers, which has helped make it an increasingly popular choice with MoneyWeek readers, according to our reader surveys.

But it is now raising the annual charge it makes for holding open-end funds (unit trusts and Oeics) from 0.2% to up to 0.25% of their value (cheaper rates will apply on holdings worth more than £250,000). The platform is also abolishing the £200 cap on such fees that it previously applied, which means investors with large portfolios will now pay substantially more.

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.