To support adviser due diligence, we have completed our own desktop analysis of different platforms and their treatment of cash interest. This is based on our review of publicly available information.
The table in the next page sets out current interest rates payable to clients on their cash holdings as well as the retained interest charges levied by the platform (where it is disclosed). Where it isn’t disclosed, we have used information from the firm’s report and accounts (again if available). We have also included links to the documents we reviewed in the table below. Note that all links to the documents we reviewed were accessed on 19 June 2026, and content may have changed since then.
Some documents are written for customers and advisers; other documents are written for investors. We recognise that it isn’t easy for advisers and clients to find the necessary information, so the table below is our best endeavour at this based on the information that we reviewed.
Note, Aviva have announced a change to their approach. They will start to take a margin on the interest received on client cash. The platform has told advisers that from 17 August, it will remove its 0.35% platform fee on cash but will instead retain a portion of the interest. Similarly, we are also aware that SS&C Platform Solutions (formerly Hubwise) are altering their approach from the 1 August and are moving to retain 25% of cash interest earned. Given their different business and distribution model, we don’t currently track SS&C on the table below.
Please let us know if we have missed anything.
Platform | Published client cash interest rate | Explicit platform charge on cash (same level as for investments) | Platform charge on cash (through retained cash interest) | Is retained interest disclosed? | Is amount of retained interest charge disclosed? | Cash charges disclosed (interest retained) | Cash charges (interest | Link to source |
|---|---|---|---|---|---|---|---|---|
Transact | 3.71% | ✔ | x | N/A | N/A | 0% | - | n/a |
Aviva | 3.05% | ✔ | x | N/A | N/A | 0% | - | |
Wealthtime Classic | 2.85% | ✔ | x | N/A | N/A | 0% | - | |
Fidelity | 2.25% | x | ✔ | Yes | No | - | Unknown | |
Quilter | 2.16% | x | ✔ | Yes | Yes | 1.16% | - | |
Nucleus Wrap | 2.03% | x | ✔ | Yes | Yes | 2.13% | - | |
Fundment | 2.00% | x | ✔ | Yes | No | - | Unknown | |
Parmenion1 | 1.88% | x | ✔ | Yes | Yes | 1.97% | - | |
Aegon | 1.81% | x | ✔ | Yes | No | - | Unknown | |
7IM | 1.75% | x | ✔ | Yes | No | - | Unknown | |
Aberdeen | 1.68% | x | ✔ | Yes | No | - | 2.51% | |
M&G Wealth | 1.78% | x | ✔ | Yes | Yes | 1.63% | - | |
AJ Bell1 | 1.28% | x | ✔ | Yes | No | - | 2.26% | |
Wealthtime | 1.04% | x | ✔ | Yes | Yes | 2.70% | - |
Note 1: assumes a £25,000 cash balance held in a SIPP
The rate we pay
As stated above, the annualised rate of interest earned on Transact cash, all of which we pass on to clients, for April 2026 was 3.70% (paid monthly) and this has been credited to client portfolios. Following further positive conversations with our banking partners, we hope to see it increase further in the coming months.
At the end of May 2026, clients held on average 7.92% of their portfolio values in cash.
We use eight UK-licensed banks: Barclays, Cater Allen, Clydesdale (now with Nationwide BS), HSBC, Lloyds, NatWest, Royal Bank of Scotland and Santander, and our treasury function expertly manages the cash across different notice periods (up to 95 days - the maximum allowed under the FCA’s client money rules).
To help you and your clients when considering your FSCS exposures, details of the banks we use and the percentages held with each bank are updated monthly and published here.