The Association of Investment Companies (AIC) has added a new tool to its website allowing users to compare platforms.

The innovation will also provide details on the costs of holding and transacting investments in investment companies.

Based on research by platform consultancy the lang cat, the tool will provide up-to-date information on 27 direct-to-consumer and 19 adviser platforms.

The information is available on the AIC’s retail and financial adviser websites.

 
The launch of the comparison tool follows research into the costs of holding investment companies on direct-to-consumer and adviser platforms released by the AIC in October last year.
 
The new information provides more detail, including previously unreleased data and has a more accessible format, the AIC said.

It also shows whether investment companies can be held on each platform and the types of accounts, such as ISAs or pensions, that are offered.
 
The guidance includes heatmaps, which show how much an investor might pay to hold and trade investment companies depending on the size of their portfolio.
 
Annabel Brodie-Smith, communications director at the AIC, said: “With so many platforms available offering different services and at different costs, it can be hard for investors and advisers to find the one that’s right for them.

“To help, the AIC commissioned the lang cat to produce detailed research on the availability of investment companies on 27 direct-to-consumer and 19 adviser platforms.

“The research has been well received and the launch of this tool on our website will make it easier to find and to use.”