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

£19bn cash on advised platforms

Hannah Godfrey
clock • 2 min read

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 holdings on advised platforms now total £19bn while an estimated £35m of investor's capital is lost annually across platforms that levy charges on their cash accounts. Giles Hutson: Is your clients' cash working hard enough? The firm's latest quarterly platform market scorecard found client cash holdings of typically 5% or more have remained relatively consistent since interest rates were much hi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Platform functionality: Beware change for change's sake

Platform functionality: Beware change for change's sake

'It's all too easy to end up in the realm of bolt-ons and fripperies'

Steve Andrews
clock 26 June 2026 • 4 min read
Vanguard UK Platform Awards – Last day to vote

Vanguard UK Platform Awards – Last day to vote

Last chance to vote across several categories

Clive Waller
clock 26 June 2026 • 1 min read
Most advice firms only 'somewhat satisfied' with platforms' data

Most advice firms only 'somewhat satisfied' with platforms' data

According to NextWealth’s Data Openness Report 2026

Sophia Panayi
clock 18 June 2026 • 2 min read