Platform 1 Lump Sum Review

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Platform 1 Lump Sum Review
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logo-roundel TailorMade Ratings:

Fund Access 3.5 / 5


Charges 4.0 / 5


Accessibility 4.0 / 5


thumbs upPros

  • Full flexibility with full withdrawal or full access in the early years without penalty
  • No commission, and no hidden charges
  • Full transparency of costs leads to lower charges than bond based options
  • No term required, therefore no surrender penalties
  • Provides access to funds, passive trackers and equities

thumbs downCons

  • Charges for currency trades, and whilst offering discounts over many of the other options it is not as cost effective as UK or US models
  • Outside of a pension, many countries do not recognise any tax concessions
  • This is a fee driven product which must be paid at outset
  • Regular trading is more difficult and could become expensive

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Platform One LogoPlatform One was created by a group of experienced and influential industry figures, Platform One provides a unique facility that supports all aspects of specialist wealth management with leading-edge technology working in parallel with premium service delivery standards. Platform One is fully authorised and regulated to provide its UK and International wrap services.

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Platform 1 – What do they say about themselves: To meet the growing needs of the international market-place, advisers and their clients from around the world can now access the benefits of a UK regulated wrap platform with exceptional service standards.
Platform 1 Hallmark Savings Plan is a transparent fee-based solutions are available that are RDR compliant. And for overseas advisers where RDR does not apply, Platform One provides a traditional commission-based alternative.
Policy Currency: The Platform One Lump Sum Plan may be denominated in US dollar, GB pound, Hong Kong dollar, Japanese yen, Swedish krona (SEK) or Euro. Benefits will be paid in the plan currency.
Why choose the Platform One Lump Sum Plan: Leading Fund Houses offer a wide choice of investment funds. You choose from over 5,000 risk-rated funds covering all the major world markets and investment classes. The funds section contains performance statistics which are updated monthly, fund prices which are updated daily and Fund Fact Sheets on each fund.
Platform One Lump Sum Plan promotion: What does Platform write about their own Platform One Lump Sum Plan? A secure, innovative regular savings scheme for individuals working internationally, who want to make lump sum investments personally or through a company group pension scheme. Flexible : Simple : Low Cost
Platform One is an online service that enables you to securely hold your investments in one place so that you can see them clearly and monitor their performance easily. The Platform One International Service provides a more efficient alternative to your investments being held by a number of different companies, each with their own account numbers and paperwork.We offer access to General Investment Accounts, a range of specialist international pension schemes and support one off contributions for the Lump Sum Investment Plan.We feel strongly about offering the ability to transfer existing assets between providers and make no charge for the re- registration of investments to or from Platform One. In addition, you are able to obtain valuations, investment information, trade details and tax return information at the press of a button.

From your adviser’s perspective, the Platform One International Service allows them to manage and monitor your investments more effectively. This enables them to concentrate on what’s important – providing financial planning that is pertinent to you and effectively managing your investments.

Eligibility: Individuals who want to make Lump sum investments (including saving schemes for dependants); Members of a group pension scheme offered by their employer; Individuals making Lump sum contributions to their own pension.
Life Assurance: Platform One does not offer life assurance; it is a trading platform purely for investing your money with a wide range of investment options.
Minimums: The minimum single premium is €300 with further contributions allowable. In reality, a typical initial investment would be £65,000 as this would balance out the annual charges and keep the plan competitive.

Establishment charge:There is no establishment charge by Platform One, however there is typically a set-up fee of £500 charged by the adviser.

Administration charge: The portfolio charge is payable in advance for the full year at the beginning of each calendar year, or on the opening of your Platform One account. The portfolio charge is €36.00. For accounts which are opened on or after the 1st July in any year the fee charged is reduced to €18.00.

The annual charge is calculated and deducted quarterly and is subject to a minimum annual charge of €300 or €75 per quarter.

The charges you have agreed with your adviser are deducted at the same time as the Portfolio and Platform charges.

Other Charges: There are also fund management charges, usually 1% to 1.5% pa each year- depending on the funds chosen, although Platform One rebates up to 50% of the fund charge making this a very unique proposition for the investor.

Additionally there may be an adviser charge to manage the portfolio, this typically can be between 1 to 1.5% per annum depending on the chosen advisers charging structure and service provided.

Are charges explicit: By explicit, it means that it is clear to see not only the charges for taking out the plan but also the cost of funds annually, any upfront fund costs. No penalties on access, etc. Yes, in the main the Platform One charges are clearly shown and any professional should be able to interpret them.

Surrender of the Platform One Lump Sum Plan: There are no surrender charges as there is no commission charged.


Platform One International Brochure
Platform One International Key Features
Platform One International Platform Profile

Full details can be found at

Quick Summary from TailorMade

The Platform One Investment Plan is completely different to the many offshore plans available and similar to the Interactive Brokers trading account. It offers full transparency with regards to charges and funds / equities / ETF from territories such as the UK, the USA and parts of Europe and in multiple currencies although one currency must be selected at outset for all charges, and exchange rates on monies held are applied. Platform One is a pure platform plan.

For anyone wishing to invest in multiple currencies who wish to consider moving from country to country and have one custodian then this should be one of the options you look at. Platform 1do not own their own platform and their custodian is regulated and based in the EU, has full protection, but also offers a full range of funds, direct equities and trackers to invest in. Therefore if Platform 1 ever ceased trading or was bought out, the clients is in fact with the custodian and would enjoy the benefits already listed. It has full access from day 1, no penalties, no hidden commissions and full transparency. You have to pay a fee to access it. It is good for those who wish to hold for the longer term.

Funds have rebated ongoing fees when directly compared to offshore bond offerings from fund houses via the UK or the USA. There are no charges on early access. You will get back the current value of your savings but, whilst there are no guarantees that the portfolio will give you the returns you are expecting, there are limited access penalties when funds in excess of published figures are taken; this loses it half a star.

NOTE: The Platform One Investment Plan normally provides no commission to its distributors (in the industry this is called indemnified or up-front commission) and therefore a fee has to be paid, but some advisers charge high 4-5% fees whereas others will charge 2%. Also, additional charges may be applied to funds by some advisers, so choose your adviser carefully and do due diligence on the charges offered.

WARNING: Costs and information is correct as of July 2016. Please refer to a brochure from the company for current up to date information and any changes on costs or information. You should not buy based purely on information contained within this article and EME do not accept liability for purchases. If you have any doubts then please speak with your financial adviser or a representative of the company for further advice.

If the provider improves or amends its terms then EME would like to hear from them to amend the review page accordingly, and providers are encouraged to comment on errors or omissions to ensure that readers have the latest and correct information.

You can view the details of the Platform One Lump Sum Plan and other plans here at an independent website.


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