Investors lose £35m annually via platform cash levies - the lang cat

£19bn cash on advised platforms

Hannah Godfrey
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"As interest rates start to rise, the rates available on these cash accounts will again become a key suitability factor and a differentiator in platform selection" - the lang cat's Mark Polson
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"As interest rates start to rise, the rates available on these cash accounts will again become a key suitability factor and a differentiator in platform selection" - the lang cat's Mark Polson

Some £35m of investor's cash is lost annually across platforms that levy charges on their cash accounts, raising questions over the levels of cash being held by advised platforms, according to the lang cat.

The consultancy firm said levy charges on cash accounts were, in most cases, greater than current interest rate returns and so serve to erode cash holdings. According to the lang cat, cash holdi...

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