| Average annualised interest received - November 2025 | 3.0572% |
- 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.
Interest paid on your cash
Cash held in your Cash Account earns interest, and from January 2026 we've started to retain a share of the interest we receive from our banking partners. Further details about this change, such as how it is being calculated can be found on our Changes to charging and cash interest page.
Please note: Illustrations produced in January may show the December rate with a portion retained. However, we only started to retain a share of the interest from January 1 2026.
How interest is calculated
- Interest is calculated based on your average daily cash balance for the whole month, then paid monthly in arrears.
- 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).
Current interest rate
Rates for the current month will be shown in the middle of the following month. For example, January’s rate will appear mid February.
Below is the interest rate for November 2025 and reflects the period before we started retaining a share of the interest. If you would like to see how the retained interest would work with the current interest rate you can do that using the calculator on the Changes to charging and cash interest page.
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.
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.