P1 Platform halves drawdown fees to ease cost pressures on advisers

From 1 December, the platform's monthly drawdown fee will fall from £10 plus VAT to £5 plus VAT, while its minimum account charge will drop from £5 to £2 a month. With the platform's 0.15% fee, accounts valued at £16,000 or less will now only pay the minimum charge. The firm said the changes will apply automatically to all accounts and reflect its "commitment to providing cost-effective, high-value solutions" for advisers and their clients. P1 said lowering the minimum fee will make it easier for advisers to manage smaller pension and ISA accounts efficiently, helping extend advice an...