Best Invest announce RDR pricing structure

gadgetmind

I need to work through my options this weekend, but I think it'll be three ISAs to Fidelity via Cavendish and two SIPPs to (probably) Friends Life via the same route.

I can get an all-in-one fund with FL for 0.35%pa all in, which works for me.

The ISAs will be around 0.55% (0.25% platform, around 0.3% fund), which is more than I like to pay, but still acceptable.

JasonPr

jamesd wrote: »

Might be interesting for someone else to ask them in email and see if they say the same in convenient written form.

I just sent an email to their Premier Service.

jamesd

Not sure that this weekend is late enough. Still some places with unannounced pricing. If it offers other terms that are acceptable you probably have enough to benefit from the platform fee cap at Trustnet Direct whenever they launch.

JasonPr

gadgetmind wrote: »

It doesn't look like either HL or BestInvest will be low cost places for our SIPPs or ISAs moving forwards. I'm going to do some research this weekend and must say that going the personal pension route could well prove more cost effective.

Please post your findings on personal pensions.

gadgetmind wrote: »

My SIPP could stay with BestInvest but whether I qualify for the lower rate is difficult. I did last week but not this week!

Below the ISA table, it says that the lower percentage only apply to assets over the amount. I assume the same applies to SIPPs.

TCA

Hold the phone! I just got their email, which linked to this:

"As you hold shares as well as funds, we will retain the existing custody fee arrangement for your equity investments. The other piece of good news is that the service fee will be levied on your fund holdings only from the 1 March 2014. This will mean you will benefit from the lower cost this will bring you on those fund investments. If your equity weightings reduce in the future it might be more cost effective for you to fully adopt the new OIS pricing. If you anticipate investing less into equities please call our team who will be very happy to discuss the most appropriate action for you to take."

http://www.bestinvest.co.uk/clear-pricing/overview

So having no funds with them, I can relax for a minute......

JasonPr

I find it quite interesting that SIPPs have a lower charge than ISAs and trading accounts.

I asked Interactive Investor the other day why their SIPP fees are so much higher than ISAs or trading accounts, and they said because SIPPs require more management (notifying HMRC of contributions, claiming back the tax relief, etc).

I'd have thought that most of that could be automated but what do I know...

koru

I'm not sure there's any other platform that charges lower fees for their SIPPs than their ISAs.

gadgetmind

TCA wrote: »

As you hold shares as well as funds, we will retain the existing custody fee arrangement for your equity investments.

Does that apply to ETFs?

So having no funds with them, I can relax for a minute......

I have Vanguard Trackers, for which I pay the custody fee. If they are keeping this, then I'm happy to stay put and even move more across to them.

gadgetmind

Hmmm, I now see that trackers will attract this uncapped fee but ETFs won't. I guess I'll switch my trackers across to equivalent ETFs, but I'll need to check the fees.

jimjames

koru wrote: »

I'm not sure there's any other platform that charges lower fees for their SIPPs than their ISAs.

Like I said above it could be Best Invest making a judgement that the higher value of SIPP pots may make it worth offering lower pricing if it attracts lots of customers from HL and others.