Charges made clear
We want to make it easy for you and your clients to see the cost of managing financial planning on the Aegon Platform.
There’s full disclosure of charges across all products and investments held on the platform. Plus, you can use the Aegon Platform to set up, collect and manage your own adviser charges.
There are three main types of charges:
- Annual charge (platform charge)
- Investment charges
- Adviser charges
Annual charge
The annual charge covers all the costs of administering your client’s account on the Aegon Platform. It’s designed to be fair and flexible while clearly separating the costs of investing for your clients.
We take this charge monthly from your client’s account. As the table below shows, the percentage charge reduces as your clients’ account value grows. So, the higher the value of assets they have on the Aegon Platform, the lower their rate of platform charge could be.
We won't apply the annual charge on cash held in a product’s cash facility.
| Charging band | Total holdings on the Aegon Platform | Annual charge percentage |
|---|---|---|
| 1 | First £100,000 | 0.29% |
| 2 | Next £150,000 (£100,000.01 to £249,999) |
0.26% |
| 3 | Next £250,000 (£250,000.01 to £499,999) |
0.23% |
| 4 | Next £500,000 (£500,000.01 to £999,999) |
0.15% |
| 5 | Over £1 million | 0.00% |
We may vary these charges in future.
To find out more about the annual charge, take a look at our Annual charge guide.
Income drawdown
We charge £75 a year if a client takes income from the drawdown element of their Aegon SIPP. We start taking this charge after we make the first drawdown payment, and it will apply yearly after that to cover ongoing administration.
If your client is taking income from more than one Aegon SIPP drawdown account, they'll only pay a single £75 charge. We'll take the charge equally across all the drawdown accounts they're taking income from.
Investment charges
Initial and ongoing charges on investments are set by the investment manager. They’ll vary depending on which assets they choose to invest in. You can find out which funds are available, and their associated charges from our Research Centre
Investment entry and exit charges
Investment entry and exit charges may also apply. Please refer to either the Key Information Document, Key Investor Information Document or fund factsheet for details.
Discretionary fund manager charge
If you and your client decide to use a discretionary fund manager (DFM) to help manage your clients’ investments, we’ll pay the agreed level of charge to this manager on your client’s behalf. The fees charged by DFMs vary. We’ll take the charge from the cash facility.
Adviser charges
These are the charges for the advice you give and are agreed between you and your client. These charges can be:
- Initial adviser charge
- Ongoing adviser charge
- Service charge
- Ad hoc adviser charge
You can take these charges either as a percentage or monetary amount using a client’s product cash facility. We’ll show any charges agreed between you and your client on their personal illustration.