AJ Bell removes VAT from managed portfolio service

AJ Bell has announced it is removing VAT from its Managed Portfolio Service (MPS), as of October last year.  The change follows a similar move by the firm's rival Brooks Macdonald just last week. VAT is being removed from AJ Bell's annual management charge of 0.15%, reducing it from 0.18% to 0.15%.  This will bring the total cost of all AJ Bell's passive MPS options below 0.50%, inclusive of the MPS ongoing charges figure (OCF) and core platform fee of up to 0.20%. The impact of the removal of VAT on the OCF of AJ Bell's Balanced Growth MPS and Income MPS options is:     ...