• How we charge your clients

    We've made Elevate charges as clear and competitive as we can. They're easy to understand and easy to explain to your client.

  • Please click a question to see the answer.

    1. What changes are being made to Elevate?
    2. When are the changes coming into effect?
    3. Are any other Elevate charges changing?
    4. Why is the Elevate Portfolio Charge being changed?
    5. Do these changes affect existing clients?
    6. What if an existing client opens a new product wrapper or new account?
    7. Can clients still link Elevate accounts?
    8. Can I move my clients to the new Elevate Portfolio Charge?
    9. How will we know who will be better off on the new structure and whether they should move?
    10. Will this have any impact on the charges on Standard Life Wrap?
    11. If existing clients would be better off in some tiers and worse off in other tiers, can they move to a structure that combines the two?
    12. Can I move clients on previous pricing terms to the current Elevate Portfolio Charge?
    13. What happens to a client’s charges if they move to my firm from another adviser?
    14. Is there a new business deadline for the current charging structure?

    1. What changes are being made to Elevate?

    A new charging structure, detailed below, is being introduced for new Elevate accounts opened after 5pm Friday 17 March 2017. Under the simple tiered structure, clients pay the Elevate Portfolio Charge based on the value of their whole Elevate portfolio.

    Value of Elevate portfolio New Elevate Portfolio Charge* Access to discounted funds?
    £0-£749,999 0.36% Yes
    £750,000-£999,999 0.33%
    £1,000,000-£1,499,999 0.30%
    £1,500,000+ 0.25%

    * Annual equivalent of the charge based on the value of the Elevate portfolio - regardless of tax wrapper

    We have also confirmed the total of discounted share classes that are being made available to Elevate has now increased to 440.

    List of discounted funds

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    2. When are the changes coming into effect?

    The new charging structure will be effective from 5pm 17 March 2017.

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    3. Are any other Elevate charges changing?

    No, only the Elevate Portfolio Charge is changing. Clients will still benefit from Elevate’s simple pricing structure with one platform charge for all product wrappers and no additional product charges, pension withdrawal fees or exit penalties.

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    4. Why is the Elevate Portfolio Charge being changed?

    We said we would undertake a review of the Elevate proposition to ensure that it can be commercially sustainable on a standalone basis. The changes being made balance our desire to minimise the impact on existing clients while supporting both the long-term sustainability of the service and the investment demanded by advisers and clients.

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    5. Do these changes affect existing clients?

    No. Existing clients are not affected by the changes. The charging structure will not change for existing customers, and there is the opportunity to reduce overall charges thanks to the expanding range of discounted fund deals. Existing clients will also be free to move to the new charging structure if it is beneficial for them to do so.

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    6. What if an existing client opens a new product wrapper or new account?

    If your client opens a new product wrapper from an existing account, there will be no impact to their charges. For example, an existing client with an Elevate ISA will be able to open an Elevate Pension Investment Account (PIA) and their current Elevate Portfolio Charge (EPC) will continue to apply to all product wrappers within their Elevate account. If clients open a new Elevate account after the new pricing is introduced, the new EPC will apply to that account.

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    7. Can clients still link Elevate accounts?

    Yes. Clients can continue to link their Elevate account to the Elevate account of a family member such as a spouse, civil partner, parent, child or grandchild, and by linking these accounts, potentially benefit from a lower tiered charge based on the combined value of the portfolios.

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    8. Can I move my clients to the new Elevate Portfolio Charge?

    When the new Elevate Portfolio Charge is introduced, you will be able to move your clients to this structure on request. Please note this option is not available for Elevate accounts in relation to Utmost (previously AXA Isle of Man) offshore bonds with Structure W charges.

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    9. How will we know who will be better off on the new structure and whether they should move?

    Details of the Elevate Portfolio Charge (EPC) that apply to your client are available on the ‘client account summary screen’ on Elevate. This shows the current level of EPC based on the value of their portfolio and the other tiers applicable to them if the value of their portfolio changes.

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    10. Will this have any impact on the charges on Standard Life Wrap?

    We have no plans to change the pricing strategy for the Standard Life Wrap platform as a result of this announcement. Our pricing strategy is kept under constant review to maintain market competitiveness and commercial sustainability.

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    11. If existing clients would be better off in some tiers and worse off in other tiers, can they move to a structure that combines the two?

    No. Clients can stay on their existing structure or move to the new one, but will not be able to move to a combination of the two.

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    12. Can I move clients on previous pricing terms to the current Elevate Portfolio Charge?

    Until the new charging structure is introduced you can move clients to the current structure if they are not already on them (i.e. typically for clients still on pre-31/12/12 charges). Once the new EPC is introduced, clients will only be able to move to the charging structure available to your firm at that time.

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    13. What happens to a client’s charges if they move to my firm from another adviser?

    When clients move from one firm to another, their Elevate Portfolio Charge (EPC) terms don’t change. If your firm’s EPC terms are better than those the client is on, you can request that the client’s EPC terms are updated.

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    14. Is there a new business deadline for the current charging structure?

    The current charging structure will be honoured on new Elevate accounts where the new business wizard has been submitted before 5pm on Friday 17 March 2017. Any in-progress wizards to open new Elevate accounts submitted after this will automatically adopt the new Elevate Portfolio Charge. The revised Elevate Portfolio Charge will be shown in the Charge information document within the wizard.

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  • 32 man and coffee

    ‘Pay what you see’ pricing

    We understand your clients need to understand what they’re paying. So, we’ve made our charges simple and competitive, with clear charging tiers. If your client’s investment grows into the next tier up, our reduced charges apply to everything invested.
  • Flexible and clear charges

    Elevate gives a full breakdown of all payments, paid to you and to us. We don’t fix any element of the adviser charges to your client, so you are free to agree charges with your clients in a way that works for you.

    No additional transaction charges

    We don't charge extra for fund switches, model portfolio functionality or tools such as the risk profile questionnaire. Other charges may apply, such as Fund Manager and DFM charges.

    Link family accounts for lower charges

    Clients who link family accounts can see their charges fall even further by qualifying for a lower price tier.

    Get invested quicker with pre-funding

    Allows you to make faster transactions for your client, so the money is invested more quickly and has additional time in the market.

  • Our current charges (please see Q&As above)

    Value of Elevate portfolio New Elevate Portfolio Charge* Access to discounted funds?
    £0-£749,999 0.36% Yes
    £750,000-£999,999 0.33%
    £1,000,000-£1,499,999 0.30%
    £1,500,000+ 0.25%

    * Annual equivalent of the charge based on the value of the Elevate portfolio - regardless of tax wrapper

    Other charges

    Product wrapper / transaction
    Charge
    Elevate General Investment Account No additional charge
    Elevate Individual Savings Account No additional charge
    Elevate Pension Investment Account No additional charge
    Third party providers Third party pension and bond providers will apply their own charges. Please refer to their original documentation or contact them directly to obtain this information.
    Fund switches No additional charge
    Securities Trading Charge The maximum stockbroking dealing charge is £12.50 per trade*

    * Aggregate charges on securities trading could be lower than this. For example, we can charge as little as £5.50 for exchange traded funds and £7.50 for non-exchange traded funds where we can aggregate 50 or more number of trades.

  • Find out more about what our Elevate platform can do for you and your clients.
  • Want to know more about investing through Elevate? Call us on 0345 600 2399.
    Lines are open between 8am and 6pm, Monday to Friday.
    We sometimes record telephone calls to help with training, service and security.