P1 Investment Services has announced a reduction in fees across its managed portfolio service (MPS). Rapid AUM growth within the firm is generating economies of scale, allowing clients to benefit from cost reductions.
The annual DFM fee on P1’s Asset Tracker and Responsible Asset Tracker ranges have reduced from 0.10% to 0.08%, and the Wealth Accumulator and Retirement Income ranges have fallen from 0.25% to 0.20%. The Ethical and Money Market ) portfolios) are charged at 0.2% and 0.05% respectively and remain unchanged.
The changes reflect P1’s belief that ongoing fee transparency and simplicity are essential in a fast-growing market. Assets in discretionary MPS reached £208bn in the year to Q1 2026, up 32%, according to NextWealth’s 2026 MPS Asset Update, which also found average asset-weighted fees falling from 0.54% to 0.49%. The Consumer Duty means that firms should regularly review their products and services, ensuring they continue to meet the needs of their target market, and that they’re delivering good consumer outcomes. Assessing price and value is a key component of this.
“MPS fees should be simple and fair. There are still parts of our market where pricing remains unnecessarily high, where discounts are negotiated behind closed doors for specific firms, and where the headline fee is only the start of the story. As we grow, we’ll keep passing the benefits of scale through to advisers and their clients.”
James Priday, CEO of P1 Investment Services, said:
The new fees are set out in full in the table below (and in attached release) and have been implemented immediately across platforms.
New P1 MPS pricing
| Portfolio Range | DFM Fee |
| Wealth Accumulator | 0.20% |
| Retirement Income | 0.20% |
| Ethical | 0.20% |
| Asset Tracker | 0.08% |
| Responsible Asset Tracker | 0.08% |
| Money Market | 0.05% |
