Charges

Here at Willis Owen, we’ve kept our charges clear and easy to understand.

All Aegon investments will simply levy a Willis Owen Service fee of 0.50% plus an Aegon Annual Charge of 0.23%. The fees are calculated are based on the value of your investments at the end of the month, and paid on a monthly basis. We make no other charge for our services but there is a £20 fee for Voting Rights on Corporate Actions levied by Aegon should you elect to take this option.


Understanding Aegon fees

Aegon provide a wide range of services that benefit customers investing in Funds. Their offering complements the services provided to you by Willis Owen.

Historically, both Willis Owen and Aegon (formerly Cofunds) received payments for their services through the Annual Management Charge (AMC) which is levied by the Fund Manager on their Funds. Our regulator, the Financial Conduct Authority (FCA), have introduced changes designed to make the charges associated with investing clearer and easier to understand. On the back of these new rules Aegon have now implemented a new process which will enable them to take their fees for any Commission-excluded share class Funds held on their platform.

Aegon will levy an Annual Charge for their services, which will be taken monthly from your account cash facility.

The table below shows Aegon charges provided to customers and the enhanced rates that will apply to you as a Willis Owen customer. The reason we have enhanced terms is quite simple, it is down to our negotiating power as one of the UK's largest non-advised brokers.

Customer Portfolio (£) Standard Aegon Rates Willis Owen's Enhanced
Aegon Rate
< £100,000 0.29% 0.23%
£100,001 – £250,000 0.26% 0.23%
£250,001 – £500,000 0.23% 0.23%
£500,001 – £1,000,000 0.20% 0.20%
> £1,000,001 0.15% 0.15%

The table below gives you a quick idea on how much you could save each year by using Willis Owen for your Aegon account. These savings all add up and compounded over years can make a big difference to your investments.

Example Standard Aegon Rates Willis Owen's Enhanced
Aegon Rate
Portfolio of £50,000 £145 £115

How your fee is calculated

Each month Aegon calculates a blended rate which is a combined average rate based on all of your assets held within your Aegon portfolio, for which you are the primary holder. This means the more assets you have on the platform, the lower the blended rate could be.

To keep this as straightforward as possible Willis Owen have purposely negotiated the same lower rate for all balances below £500,000, to keep it simple for most investors to calculate their likely costs.

A different rate is applied to each tier (see table above) and these amounts are added up. The blended rate is then calculated by dividing this total amount by the assets held.

For those with a balance of over £500,000 an example below shows how the fees are calculated.

How blending works: e.g. Portfolio of £750,000 Result
Platform charge on first £500,000 = £500,000 x 0.23% £1,150
Platform charge on second £250,000 = £250,000 x 0.20% £500
Total Amount £1,650
Blended rate = £1,650 / £750,000 x 100 0.22%

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