AJ Bell offers a Lifetime ISA with an annual charge of 0.25% per share or fund. That’s almost 50% lower than Hargreaves Lansdown.
However, when you look a little closer, they have a dealing fee of £1.50 per fund and a similar charge as Hargreaves Lansdown for buying and selling shares. So, while the headline rate looks better, it actually depends on how many funds you plan to buy each month.
For example, if you invest monthly and purchase one fund per month, you would rack up £18 worth of dealing fees. Buy 2 funds per month for diversification and those charges go up to £36. If you were investing £50 into two separate funds you would be incurring 3% of charges straight off the bat! You would not have with Hargreaves Lansdown. But, then there is a higher platform fee.
You should therefore work out what you plan to invest in and how frequently, so you can work out which platform is suitable for you. By its nature, personal finance is very specific to you.