Barclays Stockbrokers new RDR charges

SnowMan

Looks like details are coming out

https://www.barclaysstockbrokers.co.uk/Pages/rdr.aspx

https://www.barclaysstockbrokers.co.uk/Pages/price-changes.aspx

Expensive, confusing and lots of exit fees. So an alcatraz pricing model like Hargreaves Lansdown, that is probably best avoided as escape will be difficult.

jimjames

Still cheaper than HL though

we will charge you a separate fee of 0.35% per year, with a minimum charge of £35 per year, per account. This will be charged on the first £500,000 of fund holdings.

SnowMan

Looking more closely their charging structure is very similar to Fidelity for funds (0.35%pa). But there are smelling salt necessitating exit charges with Barclays and nothing for Fidelity.

I thought there were extra administration charges for ISAs and SIPPS but these are actually custody charges for holding shares and ETFs.

The custody charge for holding shares/ETFs in each account are I think:

SIPP: £240 pa
ISA: £36pa
Dealing account: £57.60 pa (but waived if you deal at least once a quarter).

coastline

examples for holding funds are given here....

https://www.barclaysstockbrokers.co.uk/Pages/rdr-faqs.aspx

http://www.telegraph.co.uk/finance/personalfinance/investing/10598988/Barclays-enters-fund-price-war-and-cuts-Isa-charges.html

SnowMan

Good to see that Barclays are treating customers fairly by waiving exit fees for those who want to leave. Well done to them for treating customers fairly in this respect :T

4. What happens if I am not happy with the changes that you are making?
You can obviously consider whether it would be better to transfer your investments to another provider. But remember, the changes that we are making to the way that we manage funds applies to all other providers too. The differences will relate to the charges levied and whether existing investments are being actively converted. If you are transferring elsewhere as a result of the changes we are making you can do so free of charge until 31 March 2014.

In contrast to the behaviour of Youinvest and Hargreaves Lansdown who are in my opinion not treating customers fairly by refusing to waive exit fees.

SnowMan

SnowMan wrote: »

The custody charge for holding shares/ETFs in each account are I think:

SIPP: £240 pa
ISA: £36pa
Dealing account: £57.60 pa (but waived if you deal at least once a quarter).

Barclays ETF and share SIPP account fee has been reduced from £240pa to £186pa.

https://www.barclaysstockbrokers.co.uk/Pages/price-changes.aspx