AJ Bell has made changes to its charging structure including a new tier and scrapping certain SIPP-related charges.

The changes, which came into effect from 1 April 2024, are:

- A new pricing tier from £500,000 to £1m, with a platform charge of 0.175%

- The charge for assets between £1.5m and £2m has been reduced from 0.1% to 0.075%

- The annual platform charge is now capped for all accounts. The previous 0.025% charge for assets over £2m in accounts valued at more than £10m has now been removed.

The platform has also made changes to costs associated with SIPP transfers and conversions.

There is now no charge for in specie SIPP transfers into the Funds & Shares Service (previously £60 plus VAT), and no charge for converting from a Retirement Investment Account (RIA) to a SIPP (previously £75 plus VAT).

These pricing changes have been updated in Analyser.

Changes like this mark a good opportunity to do a quick refresh of your due diligence, run a pricing comparison, or see how any preferential terms your firm has secured with AJ Bell stack up against the new standard pricing.