AJ Bell Youinvest vs Vanguard for drawdown: fees and features compared (2026)
A side-by-side comparison of what AJ Bell Youinvest and Vanguard charge for pension drawdown, and what you get for it. On published charges alone, Vanguard works out cheaper at all three pot sizes modelled below.
Platform charges only.
What each one charges
Provider
Published fee structure
What it covers
Fees checked
AJ Bell Youinvest
0.25% to £250k, 0.10% £250k–£500k, 0% over £500k (shares & ETFs capped at £10/month)
Platform charge only; fund charges extra
23 Sept 2026
Vanguard
0.15% flat fee (capped at £375 annually; minimum £48 a year, £4 a month, below £32,000)
Platform charge only; fund charges extra
23 Sept 2026
Annual cost by pot size
Pot size
AJ Bell Youinvest
Vanguard
Cheaper
£100,000 pot
£250
£150
Vanguard is cheaper
£250,000 pot
£625
£375
Vanguard is cheaper
£500,000 pot
£875
£375
Vanguard is cheaper
AJ Bell Youinvest is cheaper up to about £15k; above that, Vanguard is cheaper (modelled between £10k and £1m).
Fund charges, dealing and withdrawal fees are extra. Platform charges assume you hold funds. Some platforms cap charges on shares, ETFs and investment trusts, which can be much lower. See how we compare.
Features compared
Feature
AJ Bell Youinvest
Vanguard
What the charge covers
Platform charge only; fund charges extra
Platform charge only; fund charges extra
Investment range
20,000+
85+
Ready-made portfolios
Yes
Yes
Regular income payments
No extra charge
No extra charge
One-off withdrawals
No charge
No charge
UFPLS lump sums
No charge
No charge
Minimum pot to start drawdown
Not confirmed
Not confirmed
FSCS protected
Yes
Yes
Fees checked
23 Sept 2026
23 Sept 2026
“Not confirmed” means the provider does not publish the figure or we have not yet checked it; it does not mean the charge is zero.
Which suits you?
Choose AJ Bell Youinvest if you…
want a wider choice of investments (20,000+ against 85+)
Choose Vanguard if you…
want the lower platform charge at every pot size we model (£100,000 to £500,000)
This is comparison information, not advice.
Free, impartial guidance:Pension Wise offers free appointments to people aged 50 or over with a defined contribution pension, and MoneyHelper’s investment pathways comparison tool compares drawdown providers’ ready-made options. Both are backed by the government.
Pros and cons
AJ Bell Youinvest
Pro: Fund charge tapers above £250k
Pro: Zero fees over £500k
Pro: Comprehensive investment tools
Pro: High Trustpilot score
Pro: Strong customer service
Con: Higher dealing charges than some
Con: Platform interface could be modernised
Con: Limited international investment
Con: Research tools less extensive than HL
Vanguard
Pro: Extremely low annual fee capped at £375
Pro: Simple, transparent pricing
Pro: Access to renowned Vanguard funds
Pro: No withdrawal fees
Pro: Strong brand reputation
Con: Limited to Vanguard products only
Con: No individual shares trading
Con: Basic platform features
Con: Minimum £48 annual fee (£4/month for pots under £32k)
Frequently asked questions
Which is cheaper for drawdown, AJ Bell Youinvest or Vanguard?
Vanguard is cheaper at all three pot sizes we model. Yearly platform charges for AJ Bell Youinvest and Vanguard are £250 and £150 on a £100,000 pot; £625 and £375 on £250,000; and £875 and £375 on £500,000. AJ Bell Youinvest is cheaper up to about £15k; above that, Vanguard is cheaper (modelled between £10k and £1m). Fund charges, dealing and withdrawal fees are extra.
What does AJ Bell Youinvest charge for drawdown?
0.25% to £250k, 0.10% £250k–£500k, 0% over £500k (shares & ETFs capped at £10/month). Platform charge only; fund charges extra. Regular income payments: no extra charge. One-off withdrawals: no charge. UFPLS lump sums: no charge. We last checked these fees on 23 September 2026.
What does Vanguard charge for drawdown?
0.15% flat fee (capped at £375 annually; minimum £48 a year, £4 a month, below £32,000). Platform charge only; fund charges extra. Regular income payments: no extra charge. One-off withdrawals: no charge. UFPLS lump sums: no charge. We last checked these fees on 23 September 2026.
What can I invest in with AJ Bell Youinvest and Vanguard?
AJ Bell Youinvest: 20,000+, including ready-made portfolios. Vanguard: 85+, including ready-made portfolios.
How do customers rate AJ Bell Youinvest and Vanguard?
AJ Bell Youinvest has a Trustpilot score of 4.9 out of 5 (checked 8 September 2026). Vanguard has a Trustpilot score of 4.7 out of 5 (checked 8 September 2026). Scores change over time, and they do not affect our cost comparison.
How do I choose between AJ Bell Youinvest and Vanguard?
Start with the yearly cost at your own pot size, then check what you want to hold, how you plan to take income and whether you want ready-made portfolios. This page is comparison information, not advice. Free, impartial guidance on your options is available from MoneyHelper's Pension Wise service.