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s&s isa
hinchy
Posts: 59 Forumite
Hi all,
son has a s&s isa (using this years allowance) invested in funds via fidelity fundsnetwork.It was set up for him by an ifa.He now wants to take controk of his isa and instead invest in tracker funds.He wants to take control of the isa and dispense of the services of an ifa.
Just cashing in the isa would mean he would have to wait until next year to invest again or can he transfer his isa to another provider of tracker funds?
what is the best method please?
son has a s&s isa (using this years allowance) invested in funds via fidelity fundsnetwork.It was set up for him by an ifa.He now wants to take controk of his isa and instead invest in tracker funds.He wants to take control of the isa and dispense of the services of an ifa.
Just cashing in the isa would mean he would have to wait until next year to invest again or can he transfer his isa to another provider of tracker funds?
what is the best method please?
0
Comments
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Fidelity provide a range of trackers funds on their platform. There is no need to change platform.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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He is woried that the ifa receives and would still receive commission since it was he who set it up.He just assumes that as he is receiving commission from the pension that the ifa set up .0
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He is woried that the ifa receives and would still receive commission since it was he who set it up.He just assumes that as he is receiving commission from the pension that the ifa set up .
most pensions dont pay any trail commission unless explicitly agreed. However, you said it was an ISA before.
Trackers have a retail AMC which are the same across the board. He wont get them cheaper by moving away from Fidelity.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
BestInvest may suit your needs. They can interface to FundsNetwork, but check website for details.
Beware of Hargreaves-Lansdown who for some reason add .5% to the usual AMC for a tracker.0 -
The reason is that most tracker funds have much lower charges and pay little or no commission to intermediaries (which is why they tend to avoid selling them). H-L normally add 0.5% to funds that don't pay commission which is the typical annual trail commission they'd get from retail managed funds.smallfry27 wrote: »Beware of Hargreaves-Lansdown who for some reason add .5% to the usual AMC for a tracker.
But they don't charge any extra on L&G or HSBC trackers. The total annual charge for the HSBC tracker funds they offer for example is 0.25% (TER 0.27%). http://www.h-l.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results?companyid=25&tab=prices&x=10&y=10§orid=&tab=prices
It's normally very easy to switch an ISA to H-L but beware of their pushy advertising.0
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