Charges

The platform charge is calculated monthly, based on the value of your Platform Eligible Assets (PEAs) on the last working day of the previous month. This calculation is done for each product held on the Wrap platform. The charge is equal to 1/12th of your annual platform charge, as shown on your Summary of Charges document.

Your annual platform charge is calculated on a tiered basis and may change as your Wrap account value increases or decreases – for more information on charges, including product administration and dealing charges, please see the Understanding charges page or refer to your Terms and Conditions.

The platform charge is deducted from your Wrap account on the 5th of the month.

The platform charge applied to your Personal Portfolio (PP) and/or ISA is deducted from your Cash Account. Where there are insufficient funds in the Cash Account, the platform will move cash from within PP or ISA cash into the Cash Account. If there isn’t enough cash available in your PP or ISA, investments will be sold to cover the charge. This process is called auto-disinvestment.

The platform charges applied to your SIPP is deducted from the Cash Account within your SIPP. SIPP charges cannot be taken from the Cash Account. Where there are insufficient funds within your SIPP to cover your platform charge, investments will be sold to cover this.

For more information about the platform charge, including bond charges and auto-disinvestment, please see the Understanding charges page.

You can view your charges being deducted from your account on the Transaction history tab on Client Portal – make sure you have set your view to ‘Cash’. You can also see this on your Statement.

If there has been insufficient cash in Wrap cash to fund PP and/or ISA platform charges, you will see the narration: ‘Cash movement to fund Cash Account’. This is the Wrap platform moving cash from your product into Cash Account in order to take the charge as they are not taken directly from the ISA or PP.