Our charges
Simplified, transparent pricing
For customers upgrading from James Hay to the Nucleus Platform
Investments can be complex. How your clients pay for them shouldn’t be.
With the new Nucleus Platform your clients will only ever pay for the investments they have, the products they use and the choices you make with them.
Understanding how our charges apply to your clients
Our charges will be split into three main types:
- Platform charge
- Module charges for specific services
- Additional charges that may apply in certain situations
While some charges have been removed, others have increased so please take the time to understand what the changes mean for your clients.
1. Platform charge
The platform charge will replace the annual administration charge* and covers costs associated with holding the following assets:
- Platform funds – including those in model portfolios
- On platform exchange traded investments
- Fixed term deposits and notice accounts
It’s charged as a percentage of the value of the assets your clients hold, and there’s no longer a minimum charge.
* The James Hay Wrap currently has a monthly minimum fee rather than an annual administration charge. This product is being upgraded to the Nucleus Modular iPlan and a platform charge will apply.
Tiers
We offer a simple, tiered pricing structure, based on portfolio size.
Charges are lower for higher tiers. This tiered approach ensures that as your clients investments grow, they benefit from progressively lower charges. There are either three, four or five tiers, depending on their product.
The charge is calculated daily and deducted monthly from their product bank account.
Check our charges schedule to see the specific rates that apply to your clients. We sent this to your client last year.
2. Module charges
These are charges that apply depending on the products and services your clients use. They are for assets that are held off the platform, such as directly held shares and commercial property, and are fixed fees that we charge once a year. They’ll only pay them if they hold assets in these categories.
Modules are not available for the Nucleus Flexi SIPP.
3. Additional charges
Other annual charges
- Investment Manager account covers the cost of using an external Investment Manager for your client’s SIPP. For the Modular iPlan, this is accessed via the Whole of Market module.
- Stockbroker account - this fee covers the cost of investing with our stockbroker accounts: EQI and Stocktrade.
- Annual property charge covers the administrative cost of managing the commercial property investments in your clients SIPP.
Other one-off charges
While we’ve reduced the number of charges, there are some one-off fees that apply in specific circumstances such as offshore bond set up or the sale or purchase of Exchange Traded Investments (ETI) - which are payable when they take place. They’re all clearly outlined in our charges schedule.
For commercial property, some transactional charges apply.
Income drawdown charge
If your clients have started to access the benefits of their pension, either through a lump sum or regular income payments, then this annual charge will apply.
You can view charges schedules for products upgrading from James Hay below:
- Nucleus Modular iPlan (upgraded from James Hay Modular iPlan, Private Client SIPP and Wrap products)
- Nucleus Flexi SIPP (upgraded from James Hay iSIPP)
Upgraded product information is available on the Customer upgrade support hub.
(for illustrative purposes only)
Upgrading James Hay products
You can view details of upgrading James Hay products and their related charges on our Customer upgrade support page.
Further information about our upgrade approach is available in our Platform upgrade news.
