Platform One International

An independent review by our team of experts.

Review summary

Platform One International

Platform One is a UK and international investment platform service.

It has been designed to deliver a secure, high quality investment platform for the UK and international marketplace.

Via Platform One, advisers and their clients from around the world can access the benefits of a UK regulated wrap platform.

The service enables financial advisers to consolidate and manage all their high net worth clients’ investments in one place – hence the term ‘wrap’ platform.

Platform One offers what looks to be three core services, each providing access to a wide range of products, funds and services via the platform.

Overview

The UK service is available to authorised UK and offshore advisers requiring a platform for client assets held in the UK.  This means transparent fee-based Retail Distribution Review (RDR) compliant solutions.

The international service is offshore to the UK, and provides a multi-currency, client agreed fee-charging service.

There is no initial fund fee, and 100% of any fund annual management charge rebates made by the fund manager are credited to the underlying client’s cash account.

The global service is also offshore to the UK, and offers a “traditional” (read “expensively damaging”) commission service, with no explicit adviser charges.

Platform One have recently launched the International Plus Offshore Service operating out of the Isle of Man, for financial advisers and clients from around the world who need to access an open architecture multi-currency platform that offers different types of global assets at a fixed dealing cost.

Platform One is regulated by the FCA, and in 2016 won the Finance Awards Best Global Wrap Platform.

The pros

  • UK based
  • Experienced management
  • RDR option available
  • OK for UK residents

The cons

  • Smaller business
  • International version pays commission
  • Not so good for non-UK residents/expats
FAQs
What are the main features of the Overseas Wrap Platform?

The Overseas Wrap Platform has been developed to suit the differing requirements of advisers and their clients from Europe and Africa to the Middle and Far East.

The differing international tax environments, regulatory regimes and adviser business models are all accommodated in the service.

The financially secure service, using Platform One's own technology also adapts to local client-specific requirements.

Platform One offers access to a choice of over 5,000 collective funds as well as bonds, UK and international equities and cash.

Assets can be held and traded in the major international currencies.

Through either the ‘RDR-based International Service’ or the ‘Commission Funded Global Service’, customers can benefit from Platform One's status of being authorised by the UK Financial Conduct Authority, the provision of multiple currencies and  custody held in Luxembourg.

What do expats/non-UK residents need to be aware of in terms of hidden commission and charges?

The answer is written in plain English on the Platform One website if you dig a little: 

"Platform One Global – This is a traditional commission based model which offers a great deal of flexibility in terms of the fees that Advisers are able to take – Front load commission on the purchase of collectives is available in addition to a client agreed annual service fee. Moreover rebates/trails from funds are paid to your commission account as opposed to being credited to the clients cash account."

Apart from the dodgy grammar - it's all about the fact advisers can take as much as they like, seemingly...from YOUR money.

Beware.

Customer reviews
Expensive mistake

Wow - where DID all my money go?

Ah yes - I see - into my so-called 'adviser's' account...

You think you've got an adviser - there's a clue in the name - working for YOU and your money.

What you've really got is a thief enabled by a structure that let;s them charge what they want.

Angry doesn't even begin to cover it...

Expert verdict
Expert Assessment of Platform One International

For overseas advisers where RDR does not apply, Platform One provides a traditional commission-based model, which could cost the end client through hidden charges.

Our verdict is that Platform One is not a suitable platform on which to hold your money.  It is, in our view, too small, lacks the balance sheet, technological sophistication of other options and risks allowing an overseas adviser to extract hidden commission.

If you are an existing overseas investor with Platform One International, we recommend you have a free, no obligation X-Ray Review™conducted to find out the charges, access and terms applicable.

“Thank you AES International for helping me and my family with your low cost no-nonsense approach. It is refreshing!”

Kristian Petersson

“With this sort of service you also expect to be paying very high fees, but it’s just not the case. I would definitely recommend AES.”

Jake van den Dries

“In the short time that I’ve been using AES I’ve made nearly ten thousand pounds and couldn’t be happier!”

Jackie Pym

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