AJ Bell slashes fees on Managed Portfolio Service

Costs cut by 40%

Platform AJ Bell has reduced the management charge on its managed portfolio service by 10 basis points, slashing the cost by 40%.

AJ Bell's managed portfolio service now costs 0.15% plus VAT down from 0.25% plus VAT, which the firm claimed makes it one of the cheapest in the market. The platform is also moving its asset allocation approach for the portfolios in-house and will benchmark the range against Dynamic Planner risk ratings. The firm said the portfolios will use Dynamic Planner's risk targeted approach, as opposed to its risk rated approach, to "ensure portfolios consistently target the right level of volatility, giving advisers and their clients greater certainty of ongoing suitability". AJ Bell unve...