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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's service is only available through a financial adviser. 

Overview
FAQ
Customer Reviews
Expert Verdict

The International Service from Platform One, is for financial advisers and their clients from around the world who need to access the benefits of a UK regulated wrap platform, where RDR (Retail Distribution Review) style remuneration is available.

In Europe, countries such as Ireland and Switzerland are looking at the possible introduction of a RDR-type regulation. Their International Service can appeal to advisers who want to positively anticipate such a change and stay ahead in their local market.

Platform One offers a financially secure, online investment consolidation service with access to traditional, sophisticated and specialist products to meet the needs of clients.

Platform One gives advisers online access to client portfolios via a secure, modern and intuitive system that they have developed and own the rights to.

Holdings can be viewed and valuations, whether current or historic, can be accessed anywhere in the world, at any time. Platform One is able to show consolidated assets for both UK and offshore investments.

Once registered, an adviser will have their own secure login credentials and be able to carry out the following main functions:

  • Perform client and account specific searches
  • Create illustrations
  • Trade on a client’s account (buy/sell/switch)
  • Obtain updates on transfers in progress
  • Access their electronic document library
  • Access the fund library (provided by Morningstar)
  • Create current and historic valuations

The Platform One International annual charges* as per their fact sheet, are as follows:

CHARGES
Annual Platform
Charge
Balances up to
€1m
On balances
between

€1m and €3m
On balances
between

€3m and €5m
0.45%
(€300 minimum)
0.39% 0.33%
Annual Portfolio Charge €36.00 payable annually in advance.
(For accounts opened on or after 1st July, the fee is reduced to €18.00 for the first year)

 

CHARGES  
Annual Platform
Charge
On balances
in
excess
of €5m
Charge
Frequency
0.30% Deducted
Quarterly in
arrears
Annual Portfolio Charge
€36.00 payable annually in advance.
(For accounts opened on or after 1st July, the fee is reduced to €18.00 for the first year)


*You can find more details about the dealing charges for investments in the FAQs section of the review.

Key features of Platform One include:

  1. Whole of market & open architecture
  2. Investments held securely by Banque de Luxembourg
  3. A wide range of wrappers from GIAs and bonds to SIPPs, QROPs and trust accounts – full list in the factsheet
  4. Invest with fund managers, mutual funds, investment trusts, ETFs, structured products and equities
  5. Nil initial fund fee & 100% fund rebates credited to the client’s cash account
  6. Online access for adviser, client & trustee
  7. Online trading
  8. Create personal reports
  9. Fund comparison tool
  10. Illustration tools
  11. Cash management service
  12. Cash and payments in six main currencies
  13. Dedicated Client Service Team- with English language support
  14. Specialist products and services for HNW clients
  15. Platform One is authorised and regulated by the FCA
  16. Passported throughout the EU
NOTE:
  • 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.
  • 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 charges applicable to clients will depend on the financial advisers, as they offer different charging structures largely linked to the amount of commission or earnings being taken by the third party salesman or adviser. 
 
 

The Pros

> UK-based
> Experienced
> RDR option available
> Full access in the early years without penalty
> No term required, therefore no surrender penalties
> Provides access to funds, passive trackers and equities

The Cons

> Not very cost effective
> International version pays commission
> Not so good for non-UK residents/expats
> Technology used by competitors is more sophisticated.
> Outside of a pension, many countries do not recognise any tax concessions
> Regular trading is more difficult and could become expensive
Is Platform One International open for all advisers?
The advisers served by Platform One International include:
  • Clients of UK advisers and advisers in RDR jurisdictions with offshore assets
  • Clients of offshore advisers who prefer an explicit fee service
  • Offshore advisers building value with a fee-based revenue model
What are the dealing charges for mutual funds/unit trusts?

The dealing charges for mutual funds/unit trusts are as follows:

DEALING CHARGES FOR MUTUAL FUNDS/UNIT TRUSTS
Dealing type Cost Charge frequency
Electronically traded funds 0.20% (minimum charge €5/maximum charge €25) Per deal
Manually traded funds 0.20% (Minimum charge €5/maximum charge €50) Per deal
Custody charge £0.00 n/a

 

NOTE: These charges can be changed from time to time and we would recommend checking their website for the latest information.

What are Platform One International's dealing charges for other types of investments?

The dealing charges for other types of investments are as follows:

DEALING CHARGES FOR OTHER TYPES OF INVESTMENT
Dealing type Cost Charge frequency
Exchange Traded Funds 0.30% (minimum charge €35/no maximum charge) Per deal
Equities/Bonds/Investment Trusts or Structured
Products
0.75% (minimum charge €50/no maximum charge) Per deal
Custody charge 0.10% p.a. (minimum €4 p.a.) Per holding

 

NOTE: These charges can be changed from time to time and we would recommend checking their website for the latest information.

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 are the products offered by Platform One International?

The products offered are:

  • Investment accounts
  • SIPPs
  • QROPs/QNUPs
  • Equities traded on international markets
  • Offshore bonds
  • Specialist investment products
  • Regular Savings Plans
What does their UK wrap platform offer advisers?

The UK Wrap Platform provides a financially secure service designed for UK advisers, family offices, trustees, discretionary fund managers, and their top tier clients.

Here is a summary of what it offers:

  • Over 3,600 retail & institutional funds
  • Over 640 Exchange Traded Funds (ETFs)
  • Over 300 Investment Trusts
  • Structured Products
  • Over 5000 OEICs & Unit Trusts
  • Model Portfolios
  • Equities
  • Fixed Term Cash Deposits
  • Offshore collectives including SICAVs
  • DFM options
  • Complex products & non-custody assets

Expensive mistake

I lost a lot of money to a so-called 'adviser'.

Extremely disappointed and really wish I knew more about how the commission and fees really worked beforehand.

Expert assessment of Platform One International

For overseas advisers where RDR does not apply, Platform One provides a traditional commission-based model, which could result in you paying 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, and your portfolio is worth approx. £250,000 or more, we recommend a Second Opinion.

Platform One International Fact Sheet

Platform One International UK Fact Sheet

Platform One International - Account Activation Guide

Platform One Global Fact Sheet

Introducing Platform One

Platform One - Data Protection and Privacy Policy

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