Will platform charges ever become a client issue?

The Money Debate wonders if we have found a candidate for graph of the year. The Platforum, analysing platform charges on Money Marketing accompanying Tranact’s charging shake up is well worth a click because it provides a simple outline comparison of platform charges by portfolio size. It also shows very clearly which platforms are on the cheaper side and which platforms are better for bigger and smaller pots given their charging structures. It may raise an awkward question or two for clients whose portfolios have grown to a size where a different platform becomes demonstrably cheaper. The question may not, quite, be at the point of crossover because of the expense and hassle – but if all things are equalised – does it suggest advisers should consider moving clients. Alternatively, does a well-run, well financed platform, with reasonable charges provide enough justification for IFAs in particular not to have to think about moving. And will we ever get to stage where clients will start to ask if they could be on a cheaper version or not?

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