Switching Out of Funds Network to HL Vantage

oldfella

I havent heard from FFN about this either. More info here .. http://www.ifaonline.co.uk/ifaonline/news/1722069/fundsnetwork-unveils-pricing-option-hnws

seems to be no upfront or switch fees in return for a £45 annual fee

premierfella

All a bit mysterious isn't it? So the current position is that advised clients with a portfolio over £50k could be on free switching terms at the moment pending the introduction of the annual fee service going fully live (i.e. paying the annual fee).

At least, thanks to this thread, I'll have more than 90 days to ponder whether to bulk my ISA via Fundsnetwork above £50k or stay on existing terms (I don't often switch funds within Fundsnetwork at the moment).

jem16

premierfella wrote: »

All a bit mysterious isn't it? So the current position is that advised clients with a portfolio over £50k could be on free switching terms at the moment pending the introduction of the annual fee service going fully live (i.e. paying the annual fee).

It's only for switches done online. For anything that has to be doen as a paper transaction, usch as Bed&ISA the switching fee is still applied on top of the annual charge. A bit sneaky I think.

At least, thanks to this thread, I'll have more than 90 days to ponder whether to bulk my ISA via Fundsnetwork above £50k or stay on existing terms (I don't often switch funds within Fundsnetwork at the moment).

Make sure you find out about all the terms before deciding.

mike88

premierfella wrote: »

If I am reading the terms correctly, until recently at least,:
- switch to a fund with no initial charge = no switching fee
- switching from a fund with no initial charge to a fund with an initial charge = no switching fee but initial fee
...so presumably this meant that the 0.25% switching fee is only applied if you switch from a fund with an initial charge to another fund with an initial charge.

I have a FFN account and don't recall being advised of having been moved to an annual fee basis as yet?

Is not this an old condition? My reading is that if you switch to a fund such as the no initial fee Fidelity Moneybuilder range there will be no switching fee but if you switch from that Moneybuilder range into a fund or funds with an initial charge you will be charged an initial fee.

premierfella

mike88 wrote: »

Is not this an old condition? My reading is that if you switch to a fund such as the no initial fee Fidelity Moneybuilder range there will be no switching fee but if you switch from that Moneybuilder range into a fund or funds with an initial charge you will be charged an initial fee.

Could indeed be (I don't know to be honest). I clicked through the transfer ISA link on the website and through a few screens to get to one that had this link (page 4):
http://www.keyfeatures.fidelity.co.uk/wefbranding/important_rereg_info.pdf
which states information was correct as of 17/07/09!

Nice to know that Fidelity keep their information for new clients so up to date:eek:
(Apologies for omitting to post the link in the previous post and also if the charging info I quoted is, as it appears, not wholly current).