If a financial adviser runs your drawdown, you pay the platform they use and the adviser. This page shows each platform's published charge plus an ongoing advice fee. The figures below are for a £250,000 pot in drawdown with a 0.5% a year advice fee; the interactive version lets you change both. Fund, model-portfolio and dealing charges are not included. Checked 2026-09-23 against each provider's own charges pages.
| # | Platform and product | Platform | Advice | Total a year |
|---|---|---|---|---|
| 1 | Prudential — Retirement Account Product charge set by total account value and applied to the whole account: 0.30% under £100k, 0.20% to £250k, 0.15% to £750k, lower above. Fund charges (including PruFund) are extra. No direct application; M&G tells customers to “speak to your financial adviser” or find one. Source: Retirement Account key features (PDF). |
£375 | £1,250 | £1,625 |
| 2 | AJ Bell Investcentre — Retirement Investment Account 0.25% to £500k, 0.20% above (marginal, including VAT). No charge for drawdown or UFPLS. “The AJ Bell Investcentre platform is for use in conjunction with registered advisers only.” Source: Investcentre RIA charges (PDF). |
£625 | £1,250 | £1,875 |
| 3 | Aberdeen Elevate — Pension Investment Account (formerly abrdn Elevate) 0.30% under £150k, 0.25% to £1m, lower above; one rate on the whole portfolio. No drawdown charges. Drawdown instructions confirm the adviser “has given your client a personal recommendation”. Source: Elevate charges. |
£625 | £1,250 | £1,875 |
| 4 | Fidelity Adviser Solutions — Fidelity Pension 0.25% service fee plus a £45 a year investor fee. No charge to move into drawdown. For “clients investing through an adviser or intermediary”. Fidelity’s direct SIPP is a separate product. Source: Client guide to fees and charges (PDF). |
£670 | £1,250 | £1,920 |
| 5 | Nucleus — Nucleus SIPP 0.27% to £500k, 0.175% to £1m, 0.05% above (marginal). No drawdown charge. Nucleus offers its platforms “exclusively to financial advisers”. Source: Nucleus personal pension. |
£675 | £1,250 | £1,925 |
| 6 | Quilter — Collective Retirement Account 0.35% to £50k, 0.25% to £250k, 0.20% to £750k, 0.15% above (marginal). No wrapper or drawdown charge. Family linking available. “All of our products are only available via a financial adviser.” Source: Platform fees and charges. |
£675 | £1,250 | £1,925 |
| 7 | AJ Bell Investcentre — SIPP Custody 0.20% to £500k, lower above (marginal), plus quarterly admin of £50–£70 + VAT (waived from £200k) and £150 + VAT (£180) a year for flexi-access drawdown, even with no income. “The AJ Bell Investcentre platform is for use in conjunction with registered advisers only.” Source: Investcentre SIPP charges (PDF). |
£680 | £1,250 | £1,930 |
| 8 | Transact — SIPP or Personal Pension 0.26% to £600k, 0.17% to £1.2m, lower above (marginal; 0.50% on the first £60k if under £100k), plus £20 a quarter per pension wrapper. No extra charge for taking income. “The Transact service is designed to be used in conjunction with an Adviser”; charges rise 0.15% after 12 months without one. Source: Charges schedule. |
£730 | £1,250 | £1,980 |
| 9 | Aberdeen Wrap — Aberdeen SIPP (formerly abrdn Wrap) 0.30% to £250k, 0.20% to £500k, 0.10% above (marginal). No charge for moving into or being in drawdown. Family linking available. “You can only buy this product through a financial adviser.” Source: Wrap charges, Wrap charges and discounts guide (PDF). |
£750 | £1,250 | £2,000 |
| 10 | M&G Wealth Platform — M&G Wealth Pension Account (formerly Ascentric) 0.30% to £1m, 0.10% to £3m, 0.06% to £5m (minimum £15 a month). “No SIPP fees, no drawdown fees … and no exit fees.” Family linking available. “The M&G Wealth Platform is specifically for Financial Advisers and their clients.” Source: Charges and interest. |
£750 | £1,250 | £2,000 |
| 11 | Aegon Platform — Aegon SIPP (formerly Cofunds) 0.29% to £100k, 0.26% to £250k, 0.23% to £500k, 0.15% to £1m, nil above (marginal), plus £75 a year in years income is taken. Sold through advisers or non-advising intermediaries; “certain product options are only available through an adviser”. Source: Adviser and platform charges. |
£755 | £1,250 | £2,005 |
| 12 | Aviva Platform — Pension Portfolio (Core) 0.35% to £30k, 0.30% to £250k, 0.20% to £400k, 0.10% above (marginal). Core uses insured funds only. No drawdown fee in the published tariff. Aviva’s adviser platform; Aviva’s own site says it is for advisers only. Source: Pension Portfolio. |
£765 | £1,250 | £2,015 |
| 13 | Nucleus Wrap — Nucleus Pension 0.33% to £200k, 0.30% to £500k, 0.175% to £1m, 0.05% above. “Our drawdown services are charge-free.” Nucleus offers its platforms “exclusively to financial advisers”. Source: Costs and charges. |
£810 | £1,250 | £2,060 |
| 14 | Wealthtime — Novia SIPP (formerly Novia) 0.30% to £500k, 0.20% to £1m, 0.10% above, plus £62.50 + VAT (£75) a year when income is taken. An adviser platform; a higher 0.35% rate usually applies if you no longer have an adviser. Source: Charges schedule (PDF). |
£825 | £1,250 | £2,075 |
| 15 | Parmenion — Parmenion SIPP 0.30% under £300k, 0.25% to £600k, 0.20% to £1.5m, 0.15% above, on the whole portfolio, plus £18 + VAT a quarter for the SIPP. No extra charge for drawdown. An adviser platform: “When your adviser builds your financial plan … and uses Parmenion”. Source: Client charges. |
£836 | £1,250 | £2,086 |
| 16 | Scottish Widows Platform — Scottish Widows Personal Pension (formerly Embark Platform) 0.35% to £100k, 0.30% to £250k, 0.25% to £500k, 0.10% above (marginal), plus a £75 a year pension charge. The key features name a drawdown charge but no amount is published. “A pensions and investment platform built for financial advisers.” Source: Easy-to-understand charges (PDF). |
£875 | £1,250 | £2,125 |
| 17 | Aviva Platform — Pension Portfolio (Choice) 0.40% to £30k, 0.35% to £250k, 0.25% to £400k, 0.15% above (marginal). Wider fund range than Core. No drawdown fee in the published tariff. Aviva’s adviser platform; Aviva’s own site says it is for advisers only. Source: Pension Portfolio. |
£890 | £1,250 | £2,140 |
| 18 | Nucleus — Flexi SIPP (formerly James Hay iSIPP) 0.27% to £500k, 0.175% to £1m, 0.05% above (marginal), plus £192 + VAT (£230.40) a year once benefits start, even if no income is taken. “This site is for financial adviser use only.” The Flexi SIPP is available on an advised-only basis. Source: Flexi SIPP. |
£905 | £1,250 | £2,155 |
| 19 | 7IM — 7IM SIPP 0.30% to £500k, 0.25% to £1m, lower above (marginal), plus £135 + VAT (£162) a year for paying income. SIPPs under £75,000 pay a further £120 a year. “A whole-of-market investment platform supporting financial advisers.” Source: Fees and charges, SIPP fees and charges (PDF). |
£912 | £1,250 | £2,162 |
| 20 | Royal London — Pension Portfolio with Income Release 1.00% charge less a loyalty discount on the whole pot: 0.75% to £48,300 falling to 0.35% above £967,000. Includes management of Royal London’s own funds. No extra charge for Income Release. Band edges rise with RPI each April. “Available by talking to a financial adviser.” Source: Pensions and investments charges guide (PDF). |
£1,125 | £1,250 | £2,375 |
| 21 | Aegon — Aegon Retirement Choices (ARC) SIPP 0.60% to £30k, 0.55% to £50k, 0.50% to £100k, 0.45% to £250k, nil above, capped at £1,215 a year, plus £75 a year in years income is taken. “Your adviser or your employer can open” the account. Source: ARC charges. |
£1,290 | £1,250 | £2,540 |
These firms sell advice, the pension and their own funds together, so we use their own ongoing advice charge.
Curtis Banks — Your Future SIPP: a fixed SIPP wrapper fee of £736 a year; the platform or investment manager you choose charges on top, so it is not ranked. Source: Your Future SIPP.
An adviser recommends how much to take, from which pots and in what order, reviews it each year and is responsible for that advice under FCA rules. You can also run drawdown yourself on a DIY platform: compare DIY drawdown platforms. Platform charges here are each provider's standard published rate; several say your actual rate may differ, and an adviser can confirm what you would pay.
Information only, not personal advice. The value of investments can fall as well as rise. How we compare.