Short answer
Which is cheaper?
For a £20,000 fund ISA with no one-off dealing, both Barclays Smart Investor and AJ Bell model at £50/year. For a £50,000 mixed ISA with two fund trades, two share or ETF trades, and £500/month FX, AJ Bell models at £162.50/year versus Barclays at £197/year.
- Fund holdings
- The two platforms can tie at smaller fund-only balances.
- Shares and ETFs
- AJ Bell's ISA cap is the big difference at larger exchange-traded balances.
- FX
- Barclays starts at 1% in the model; AJ Bell starts at 0.75%.
Fee model
Platform, dealing and FX fees
| Fee area | Barclays Smart Investor | AJ Bell |
|---|---|---|
| Platform/account fee | 0.25% on the first £200,000 and 0.05% above that. | Funds at 0.25% on the first £250,000, then 0.10%; shares and ETFs capped at £42/year. |
| Dealing fee | Online fund dealing £0; one-off share and ETF deals £6. | One-off online fund deals £1.50; share and ETF deals £5. |
| FX fee | Tiered from 1% on the first £5,000 of each monthly FX amount. | Tiered from 0.75% on the first £10,000 of each monthly FX amount. |
| Investment range | Funds, shares and ETFs. | Funds, shares and ETFs. |
| Flexible ISA | Yes | No |
Worked examples
Calculator-backed scenarios
- £20,000 fund ISA, no one-off deals: Barclays Smart Investor £50; AJ Bell £50.
- £50,000 mixed ISA with two fund trades, two share or ETF trades, and £500/month FX: Barclays Smart Investor £197; AJ Bell £162.50.
- £300,000 ETF-only ISA, no FX: Barclays Smart Investor £550; AJ Bell £42.
These examples use the same fee assumptions as the main ISA fees calculator. They exclude fund ongoing charges, stamp duty, market spread, investment performance, and temporary promotions.
Important caveats
Before switching provider
Provider fees can change, and terms can vary by product, plan, transfer route, cash interest policy, and promotion. Verify the provider's current terms before opening or transferring an ISA.
This page is factual educational content, not personal financial advice or a recommendation to buy, sell, transfer, or choose a specific investment platform.
Sources