We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Trustnet launch new DIY investment platform
Options
SnowMan
Posts: 3,676 Forumite
Trustnet have launched a new platform Trustnet Direct.
www.trustnetdirect.com
http://www.trustnet.com/News/478127/fe-launches-new-low-cost-platform-for-private-investors/
PLATFORM CHARGES AND OTHER INFO
https://www.trustnetdirect.com/account-charges
Custody charge: 0.25% of portfolio value (subject to a maximum across all accounts, dealing, ISA and SIPP, of £200pa and a minimum of £20pa). So for total portfolios (i.e. dealing + ISA + SIPP portfolio value)
above 80K - fixed £200pa charge
below 8K - fixed £20pa charge,
8K to 80K - 0.25% pa
Additional SIPP administration charge on top of the custody charge for those with a SIPP account of £144pa. Will be waived for the first year if SIPP opened before 30th June 2014.
Dealing charges: for funds and shares, ETFs, investment trusts of £10. A frequent trader rate of £6 applies after your 10th trade in each month. All equity, investment trust, ETF and fund trades qualify.
Regular investments: For regular/monthly investments, the cost per transaction is £2. So, the investment costs for five funds would be £10 per month. There is a special offer for clients setting up regular investments where you can invest in up to four funds or shares per month free for the first year.
Available investments: according to Trustnet a 'full range of investments - managed funds, ETFs, investment trusts and individual equities'. Including Vanguard funds. Only clean share classes offered. Free conversion from 'dirty' to 'clean' class.
Special offer for those transferring in: Trustnet Direct will pay up to £100 of exit charges from previous platform (subject to a maximum of £10 per investment).
Exit charges:
ISA and dealing accounts:£15 per investment re-registration away charge
SIPP account: £120 transfer out charge.
SIPP transfer in charges: £60 per pension transfer (subject to a maximum of £360)
Platform: will be using a 'repurposed' version of Interactive Investor's trading platform.
(All charges above include VAT)
www.trustnetdirect.com
http://www.trustnet.com/News/478127/fe-launches-new-low-cost-platform-for-private-investors/
PLATFORM CHARGES AND OTHER INFO
https://www.trustnetdirect.com/account-charges
Custody charge: 0.25% of portfolio value (subject to a maximum across all accounts, dealing, ISA and SIPP, of £200pa and a minimum of £20pa). So for total portfolios (i.e. dealing + ISA + SIPP portfolio value)
above 80K - fixed £200pa charge
below 8K - fixed £20pa charge,
8K to 80K - 0.25% pa
Additional SIPP administration charge on top of the custody charge for those with a SIPP account of £144pa. Will be waived for the first year if SIPP opened before 30th June 2014.
Dealing charges: for funds and shares, ETFs, investment trusts of £10. A frequent trader rate of £6 applies after your 10th trade in each month. All equity, investment trust, ETF and fund trades qualify.
Regular investments: For regular/monthly investments, the cost per transaction is £2. So, the investment costs for five funds would be £10 per month. There is a special offer for clients setting up regular investments where you can invest in up to four funds or shares per month free for the first year.
Available investments: according to Trustnet a 'full range of investments - managed funds, ETFs, investment trusts and individual equities'. Including Vanguard funds. Only clean share classes offered. Free conversion from 'dirty' to 'clean' class.
Special offer for those transferring in: Trustnet Direct will pay up to £100 of exit charges from previous platform (subject to a maximum of £10 per investment).
Exit charges:
ISA and dealing accounts:£15 per investment re-registration away charge
SIPP account: £120 transfer out charge.
SIPP transfer in charges: £60 per pension transfer (subject to a maximum of £360)
Platform: will be using a 'repurposed' version of Interactive Investor's trading platform.
(All charges above include VAT)
I came, I saw, I melted
0
Comments
-
If the £200 cap is universal across all investment types this looks attractive for anyone invested in funds over £80K in value.
Charles Stanley would still be cheaper for stocks and shares with their £150 cap or effective £120 cap if trading at least six times each six months but their fund fees have no such cap for larger pots which seems bizarre.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
Very competitive but the £10 will rule out a lot of low £ investors.
They also state early 2014. With the very limited information currently available, I would be surprised if it is all up and running in the first quarter of the year.0 -
I've assumed that £10 charge only applies to stock purchases and doesn't include funds which would put them in the same ballpark as most of their competitors.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0
-
I've assumed that £10 charge only applies to stock purchases and doesn't include funds which would put them in the same ballpark as most of their competitors.
A lot of them are now charging, either £1.50 regular or £10 one off, the same as equities. Someone posted a link to a page which has all the details (although a little out of date) and a lot are now starting to charge.
If it is the case that fee-free trading of funds then I will be very up for joining them.0 -
I only use CS regularly, I hadn't realised the dealing charges were being introduced for fund purchases too on platforms. Are you sure about that?'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0
-
I only use CS regularly, I hadn't realised the dealing charges were being introduced for fund purchases too on platforms. Are you sure about that?
YouInvest charge £4.95 from January 1st
http://www.youinvest.co.uk/Resources/Content/PDF/AJBYI_ISA_charges.pdf
Not all do (CS don't who, currently, are the provider I am going to move from HL to) but there does seem to be a trend growing. This does rule me out for those platforms as I do like to invest low amounts.0 -
Cavendishonline aren't quoting a transaction fee but don't have a maximum like Trustnet are suggesting.
If the transactional fee doesn't apply to OEICs then it will be ahead of Cavendish."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Trustnet are launching a new platform.
http://www.trustnet.com/News/478127/fe-launches-new-low-cost-platform-for-private-investors/
Wow.
The service will charge investors 0.25 per cent per year, capped at £200 for high net worth individuals
£80K?!
I dind't realize I was a "high-net-worth" individual! Now, where's that champagne?
Warmest regards,
FAThus the old Gentleman ended his Harangue. The People heard it, and approved the Doctrine, and immediately practised the Contrary, just as if it had been a common Sermon; for the Vendue opened ...THE WAY TO WEALTH, Benjamin Franklin, 1758 AD0 -
Will the usual HNWI form/statement be required to get that cap or is it just ... a cap?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 -
Interested in this - I use the trustnet site a lot for information - particularly regarding risk ratings and investment trusts.
I am also apparently a "high-net-worth" investor - lets see what HL come up with.:D0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards