| Average annualised interest received | Interest we retain | Interest we pay to you | |
| July 2026 | 3.71% | 1.69% | 2.02% |
- Platform charge
- Interest
- Family linked discounts
All-in-one charging
We know charges can feel complicated. For using the M&G Wealth Platform you pay one clear fee, no hidden extras.
This Annual Platform Charge covers the cost of running your account, trading, and platform services.
There are no additional charges for:
- Dealing
- Transfers in or out
- Using our products, such as the Investment Account, ISA, Junior ISA, or SIPP
How it works:
- From January 2026 the charge only applies to your invested assets; cash held in your Cash Account is excluded from the charge.
- We calculate your charge monthly in arrears, based on the average daily value of your investments.
- If your calculated charge is less than £15, we apply the minimum monthly charge of £15.
- Discounted rates are available for larger portfolios, starting at £1m, £3m, and £5m.
Charges start when we accept your application and receive your money in the same month. Otherwise, they begin on the first day of the month we receive your money. All charges include any applicable taxes.
Other charges to be aware of
Fund managers, discretionary fund managers, or third-party product providers may charge separately for their services.
Your financial adviser can explain these in more detail.
Current interest rates
Cash held in your Cash Account earns interest and rates for the current month will be shown from the middle of the following month. For example, January’s rate will appear mid February.
Additional information
- Interest is calculated based on your average daily cash balance for the whole month, then paid monthly in arrears
- We retain a share of the interest we receive from our banking partners
- You’ll see both the interest paid to you and the amount retained in your online transaction history
- We use a tiered approach to calculating the interest we retain. This means the amount we pay to you will depends on the current interest rate and your cash balance
- There’s no minimum cash requirement. If you don’t have enough to cover charges or withdrawals, we’ll automatically sell some investments (auto-disinvestment).
Approach
We use a tiered approach to calculate the interest you receive, with different amounts retained for each band of interest. We’ve chosen this method to ensure the interest you receive is fair and competitive. For further details read our Q&A.
To see how the interest is calculated across the tiers take a look at the example below or check out our calculator. To use the calculator enter a cash amount and an interest rate and the calculator will show you how much you'd receive and how much we'd retain.
Example
In this example we assume you have £5,000 in your cash account and the interest rate is 3.5%.
Over one year the total interest received from our banking partners would be £175 (that’s 3.5% of £5,000).
This table shows how the £175 is allocated between the amount we retain and the amount we pay across the interest rate bands.
The figures presented are for illustrative purposes only, and should not be relied upon as financial advice or a guarantee. Actual amounts paid and retained are available for customers to view on the platform transaction history screens.
Holding cash on the M&G Wealth Platform
Our cash accounts are designed for short-term use, not for keeping large sums in cash for longer periods, such as several months or years.
If you’d like to include cash in your portfolio for its lower-risk profile, we also make other solutions available; such as funds that provide diversified access to cash-like investments and aim to deliver competitive returns.
To ensure your approach aligns with your goals, please speak with your financial adviser. They can guide you on the potential risks and benefits of holding cash or investing in cash-based funds.
Historic rates
| Average annualised interest received | Interest we retained | Interest we paid to you | |
| June 2026 | 3.66% | 1.68% | 1.98% |
| May 2026 | 3.55% | 1.66% | 1.89% |
| April 2026 | 3.41% | 1.63% | 1.78% |
| March 2026 | 3.24% | 1.60% | 1.64% |
| February 2026 | 3.14% | 1.58% | 1.56% |
| January 2026 | 3.15% | 1.58% | 1.57% |
Family Linking
You could further reduce your charge if you and your family share an adviser and all hold your investments with us. We'll add all your investments and assets together so that you may take advantage of the lower platform charge for large portfolios. We'll work out the right share of the charges to apply to each member so you only pay your proportion.
Reflecting the shape and dynamic of modern families, our family groups can include spouses, civil partners, cohabitees, parents, children, grandparents, grandchildren and step relations may benefit from a discount on our platform charge using family linking.
Only invested assets count towards these benefits, cash is excluded.
How we look after your money
Any money you hold as cash in your account is protected by the Financial Services Compensation Scheme (FSCS), up to the maximum FSCS limit for each client and for each bank where your money is held.
To check the current FSCS limit, please visit the FSCS website. FSCS will not pay more than this limit in total per firm, even if your money is split between your personal account and your IFDL client account deposits. In certain situations, FSCS also provides extra protection for temporary high balances.