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iii introducing quarterly £20 charge
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No retailer can avoid cross-subsidy between customers, and no retailer tries.But then it isnt fair that managed fund holders are paying for those with shares.
But it may not be all one way. Sharedealing customers always pay for trades, whereas fund customers usually don't. And since they're more interested in timing and don't have accumulation units, they may well have more cash sloshing around, earning interest for the broker."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
can someone who has been a regular poster on this thread, AND with a selftrade account please contact me by PM. cheers
Plunt0 -
No retailer can avoid cross-subsidy between customers, and no retailer tries.
The FSA did remark recently that the rules don't prevent cross subsidy and some charges will still exist that will have an element of cross subsidy (% based charges for example). However, they will prevent cross subsidy in investment types and that is the key thing here. Especially when you consider that when all UT/OEICs go clean share class, no income will be paid to the platforms. So, what are they going to do with new business?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 -
well, they could start charging dealing fees for funds, as they already do for shares.
there are a few ways they could do it, and different ways will be better for different kinds of customer.0 -
Especially when you consider that when all UT/OEICs go clean share class, no income will be paid to the platforms. So, what are they going to do with new business?
With BestInvest, holding anything that doesn't give them kick-backs triggers their £60/£120pa custody fee. I'd guess that this would be extended to more and more types of fund.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
iii still not replied to e-mail - will give them until lunchtime then try to call.0
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They've still not closed my account down yet either...0
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Possibly a silly question, but I have only shareholdings (7 in total) with iii, using Cofunds instead for my Isas, so who should i transfer to now as it would be stupid to stay.
Any help much appreciated0 -
Possibly a silly question, but I have only shareholdings (7 in total) with iii, using Cofunds instead for my Isas, so who should i transfer to now as it would be stupid to stay.
Any help much appreciated
I was completely up and running with iWeb within minutes of starting the online application. If you used iii before last October's migration you'll recognise the interface as they're owned by Halifax Share Dealing who operated iii's service up to that point. So you'll be going back to a service that will be familiar and with and no annual charges etc. There are plenty of other options as mentioned throughout the thread.0 -
DonnySaver wrote: »They've still not closed my account down yet either...
How did you get in touch with them in the first place, e-mail or phone?
Complete p!sstake - HL have sent two e-mails in the time I'm still waiting to hear from iii. Perhaps I'd best phone them at some point.0
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