Our charges
Professionally managed investing should be as cost effective and clear as possible, so we've made sure our investment and platform fees are competitive and transparent.
- Parmenion don’t offer financial advice.
- Past performance doesn’t guarantee future returns.
- Investments can go down and up, and you may get back less than you invest.
- There’s no guarantee that the investments will meet their objectives.
How charges work
When your adviser builds your financial plan, makes a recommendation, and uses Parmenion to invest your money, you’ll pay a charge for each part of the process.
At Parmenion, this will typically look like this:
Adviser charge
This is the charge agreed by you and your adviser for their advice, this can sometimes be a flat £ amount, or a % of your portfolio value. This is paid to your adviser.
Platform charges
These charges are for custody, i.e. the ongoing administration of your investment portfolio and the secure holding of your assets. There’s also an additional platform charge if you have a pension (known as a SIPP) with us. These are paid to Parmenion.
Investment solution charges
These charges cover the management of your portfolio’s investments (like fund changes, asset allocation updates etc), the costs of the underlying funds, and the costs to buy and sell those funds. Who these are paid to depends on whether your adviser uses our in-house investment solutions, another investment manager, or manages the investments themselves.
Platform charges
Custody
Our custody charge is for the ongoing administration of your investment portfolio and securely holding your assets. We don’t charge custody on cash.
It uses a “cliff edge” approach, which means that when the total value of your assets reaches a band, you pay that charge for all assets with Parmenion.
| Custody Band* | Charge |
|---|---|
| £0 - £299,999.99 | 0.30% |
| £300,000.00 - £599,999.99 | 0.25% |
| £600,000.00 - £1,499,999.99 | 0.20% |
| £1,500,000.00+ | 0.15% |
*A minimum monthly custody charge of £5 per client applies for clients over 18.
Quarterly SIPP charge
£18+VAT per quarter
This covers the annual administration costs of your SIPP, which we take quarterly. There are no additional charges for going into drawdown or taking income. It doesn’t apply to clients under 18.
Investment Charges
If your adviser uses our in-house investment solutions, you’ll pay the rates below.
These reflect the careful management provided by our in-house investment team across risk driven asset allocation, governance, fund due diligence and ongoing rebalancing.
| Type | Charge |
|---|---|
| DFM Charge (passive) | 0.12% |
| DFM Charge (active) | 0.24% |
| Dealing charge (for fund switch and rebalance purchases) | 0.45% (≈0.05% p.a.)* |
*Assumes 12% of funds change each year, but this might be higher or lower depending on the investment solution.
- If your adviser uses an investment solution they’ve built themselves, or one from another investment manager, their investment charges will be different. Please speak to your adviser to find out more.
Interest we pay on cash
We hold a small amount of your investment in cash to support trading activity and pay charges. This is different to cash that might be used as a low-risk investment option. We may earn interest on this cash, and if we do, we’ll retain it and pay you a rate of interest determined by us. This rate is reviewed on a regular basis. To see our latest rates, click below.