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  • FIRST POST
    • TRRER
    • By TRRER 8th Jul 16, 2:18 PM
    • 51Posts
    • 23Thanks
    TRRER
    New-santander investment hub
    • #1
    • 8th Jul 16, 2:18 PM
    New-santander investment hub 8th Jul 16 at 2:18 PM
    In the near future santander are moving investments to what they call an hub.

    Years ago I purchased shares in their "santander investment portfolio, these are going to now, be moved to said hub.

    reading my letter that tries to explain, it seems their is an increase in fees.
    Hard for me to understand but it seems that i have been paying 0.97% fee, this not to change.
    But there is now an extra charge of 0.3%

    So that would mean the cost each year would be around 1.2%, is this high for such a fund, or should I be content to accept?
Page 1
    • dunstonh
    • By dunstonh 8th Jul 16, 3:00 PM
    • 88,375 Posts
    • 53,592 Thanks
    dunstonh
    • #2
    • 8th Jul 16, 3:00 PM
    • #2
    • 8th Jul 16, 3:00 PM
    The banks have mostly pulled out of financial advice. Mainly as a result of them no longer being able to be paid commission and the high levels of mis-sales they have had. In the fee based world with explicit charging, it does not seem logical to pay for a tied sales rep when an IFA can do it for the same or cheaper.

    What they have been bringing out instead is rather cheeky. They now offer a collection of self select investments where customers pick their own investments which are held on their own platform. You get none of the benefits of advice but are charged a similar figure to advice. If you want to DIY, then you should use a DIY option which would be cheaper.

    Existing investors are being moved on to these new options which usually means you end up even worse off as you have a naff bank fund charged higher than better options.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • RayG
    • By RayG 22nd Jan 17, 1:08 PM
    • 8 Posts
    • 1 Thanks
    RayG
    • #3
    • 22nd Jan 17, 1:08 PM
    is this suitable for a numpty
    • #3
    • 22nd Jan 17, 1:08 PM
    Like may more I have received an invitation to join Santander Investment Hub. Is this suitable for someone like me who has no idea of stock investments
    • dunstonh
    • By dunstonh 22nd Jan 17, 1:16 PM
    • 88,375 Posts
    • 53,592 Thanks
    dunstonh
    • #4
    • 22nd Jan 17, 1:16 PM
    • #4
    • 22nd Jan 17, 1:16 PM
    Like may more I have received an invitation to join Santander Investment Hub. Is this suitable for someone like me who has no idea of stock investments
    Originally posted by RayG
    i refer you to my previous post. (in summary - suitable: yes - best for you: no)
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • bigadaj
    • By bigadaj 22nd Jan 17, 2:44 PM
    • 9,363 Posts
    • 5,983 Thanks
    bigadaj
    • #5
    • 22nd Jan 17, 2:44 PM
    • #5
    • 22nd Jan 17, 2:44 PM
    Like may more I have received an invitation to join Santander Investment Hub. Is this suitable for someone like me who has no idea of stock investments
    Originally posted by RayG
    Think of it as an invitation to an event from a local car dealer, and approach in a similar manner.
    • RayG
    • By RayG 23rd Jan 17, 10:06 AM
    • 8 Posts
    • 1 Thanks
    RayG
    • #6
    • 23rd Jan 17, 10:06 AM
    thanks
    • #6
    • 23rd Jan 17, 10:06 AM
    I might as well invest 20 quid a month in premium bonds. Thanks.
    • bowlhead99
    • By bowlhead99 23rd Jan 17, 10:54 AM
    • 6,502 Posts
    • 11,500 Thanks
    bowlhead99
    • #7
    • 23rd Jan 17, 10:54 AM
    • #7
    • 23rd Jan 17, 10:54 AM
    I might as well invest 20 quid a month in premium bonds. Thanks.
    Originally posted by RayG
    Yeah, if you don't mind getting a return that's virtually guaranteed to be nothing for a while and then even once built up to a big amount will statistically give you a return lower than inflation. Whereas investments will statistically give you more than inflation.
    • Asghar
    • By Asghar 16th May 17, 4:14 PM
    • 94 Posts
    • 41 Thanks
    Asghar
    • #8
    • 16th May 17, 4:14 PM
    • #8
    • 16th May 17, 4:14 PM
    Came across this old thread after googling because a friend of mine wants to invest in an ISA for the first time.

    He is only looking to invest £50 per month in a global fund and the Santander Investment Hub seems ideal. The 0.35% platform fee includes paper statements and there's also no exit or transfer fees. There are cheaper platforms but they have larger minimum lump sum and monthly payments.

    Are the past negative comments because people already with a Santander ISA were being moved to this new platform and asked to pay the extra platform charge?
    • enthusiasticsaver
    • By enthusiasticsaver 16th May 17, 4:22 PM
    • 3,684 Posts
    • 6,649 Thanks
    enthusiasticsaver
    • #9
    • 16th May 17, 4:22 PM
    • #9
    • 16th May 17, 4:22 PM
    Banks are notoriously bad at managing investments. They charge high fees and I would personally research diy. That is how I started off initially investing £250 per month in a vanguard lifestrategy fund via Cavendish investments. There is a lot of information online for novice investors. Monevator, trustnet, morning star or the Hargreaves Lansdowne websites.
    Debt and mortgage free and saving for early retirement
    • Asghar
    • By Asghar 16th May 17, 7:44 PM
    • 94 Posts
    • 41 Thanks
    Asghar
    Banks are notoriously bad at managing investments. They charge high fees and I would personally research diy. That is how I started off initially investing £250 per month in a vanguard lifestrategy fund via Cavendish investments. There is a lot of information online for novice investors. Monevator, trustnet, morning star or the Hargreaves Lansdowne websites.
    Originally posted by enthusiasticsaver
    They offer funds from other fund managers as well, although not quite as comprehensive as the major platforms providers.

    We were looking at the Old Mutual Global Equity and Henderson Global Growth funds, which they provide on their platform.
    Surely as a platform provider for a simple £50 per month investment, it has to be better than Hargreaves Lansdown? The platform is slightly cheaper and there are no closing down or transfer fees.
    • Asghar
    • By Asghar 16th May 17, 7:52 PM
    • 94 Posts
    • 41 Thanks
    Asghar
    Just checked on Cavendish and they offer £50 per month minimum but a lump sum top-up is £1000 whereas with Santander it's only £100.

    I'll leave it with him anyway.
    • george4064
    • By george4064 16th May 17, 8:47 PM
    • 786 Posts
    • 824 Thanks
    george4064
    Came across this old thread after googling because a friend of mine wants to invest in an ISA for the first time.

    He is only looking to invest £50 per month in a global fund and the Santander Investment Hub seems ideal. The 0.35% platform fee includes paper statements and there's also no exit or transfer fees. There are cheaper platforms but they have larger minimum lump sum and monthly payments.

    Are the past negative comments because people already with a Santander ISA were being moved to this new platform and asked to pay the extra platform charge?
    Originally posted by Asghar
    Lots of platforms would allow a new client investing £50 per month..

    I recommend you/your friend study this investment platform comparisom table: http://monevator.com/compare-uk-cheapest-online-brokers/
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2016 - #045 £10,358.81/£12,000 (86%)
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    • Sean473
    • By Sean473 17th May 17, 7:03 PM
    • 65 Posts
    • 29 Thanks
    Sean473
    I was with Santander... For a small £50 a month investor, it's good... For larger more demanding investors like me, not that good...

    I'm moving to TD Direct, not the best choice for your friend due to the platform fee for holdings below £5000...
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