Isa savers who switch to a cheaper direct-to-consumer platform could save £230 a year, according to a mystery shop.
Analysis by personal finance expert Andrew Hagger from financial services research firm MoneyComms found that Isa holders with a £30,000 invested through a platform could save up to £230.25 a year by switching to a cheaper provider.
Mr Hagger also found that investors could save an average of £55.54 a year by transferring the same portfolio to the cheapest platform.
His findings were based on a portfolio of £30,000 investment with the same five funds: Woodford Equity Income, Old Mutual UK Alpha, MFM Slater Growth Fund, Standard Life UK Smaller Companies and Vanguard Life Strategy 60% Equity Fund.
