AJ Bell Investcentre cuts custody charges on its platform

Increased interest on cash

AJ Bell Investcentre has reduced annual custody charges on its platform for investing via its funds and shares services, alongside increasing the interest rates paid on cash balances.

Effective from 1 April 2024, the platform reduced custody charges for assets above £500,000 – any assets below the threshold will continue paying 0.2% a year. For assets between £500,000 and £1m, charges will drop from 0.2% to 0.175%. Charges for assets between £1m and £15m will remain the same at 0.15%; while those between £1.5m and £2m will have charges cut from 0.1% to 0.075% and assets above £2m will pay no charges whatsoever. AJ Bell platform assets hit record £76.2bn as inflows soar 62% The platform also increased interest rates paid on cash balances. Any cash up to £10,00...