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Best Invest announce RDR pricing structure

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  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    snowcat53 wrote: »
    V
    Presumably the ETFs are all available on BI?

    No.

    Available: VFEM, VHYL, VUSA. VWRL, WUKE. VGOV.
    Not: VAPX, VJPN, VEUR.

    Data comes from trying to place orders on BI. Their official list isn't complete but they are good at adding ones that people request. These make the system but not always the list.

    https://select.bestinvest.co.uk/media/671986/etf-available-select.pdf

    Try INXG and SLXX for index linked gilts and corporate bonds.

    For All Share use VUKE with a side order of MIDD.
    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.
  • ^opm^
    ^opm^ Posts: 161 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    All this is getting me confused with some of the replies I'm reading on the previous pages.

    I have a IFSL Bestinvest growth portfolio acc multi asset fund with them that I add £600 a month to and been doing this for years now so it has grown into a nice nest egg.This is done as an ISA package.

    Now according to the website the current TER of this is 2.29% of which 1.5% is the annual management charge so not sure what the other 0.79% is- answers please on a postcard.

    But besides that with this new pricing structure what is the TER going to be on this fund now? Instead of 1.5% amc will it be 0.4% so reducing the TER to 1.19%?

    It all gets so confusing trying to compare that I end up leaving it all with Bestinvest.

    Can anyone explain it all in plain English please.

    Thank you
  • jamesd
    jamesd Posts: 26,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Simply wait. There are more changes coming and by waiting you allow time for that to happen and more comprehensive comparisons to be made. Two or three months from now it'll be a lot easier to pick the best option.
  • bigsy
    bigsy Posts: 178 Forumite
    edited 4 February 2014 at 9:30AM
    This is in the new FAQs, but in case anyone has missed it:

    Until now the £12.50+VAT quarterly 'periodic fee' for holding Vanguard funds and shares in my ISA with Bestinvest has been taken from cash in the investment account. From March onwards, the monthly 'custody fee' will be collected by default from within the ISA. There doesn't appear to be an option to take it from the investment account, but it can also be paid by direct debit. This requires a new direct debit mandate to be completed and returned to BI along with an instruction regarding where to collect the fees from.

    The DD forms are available at http://www.bestinvest.co.uk/media/488463/direct%20debit%20mandate.pdf
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I'd like to pay my ISA fees by DD (due to ISA limits) but my SIPP fees from the SIPP (so HMG pay some of the fees!)

    I'll hassle them about this nearer the time!
    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.
  • koru
    koru Posts: 1,537 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    gadgetmind wrote: »
    I'd like to pay my ISA fees by DD (due to ISA limits) but my SIPP fees from the SIPP (so HMG pay some of the fees!)
    You had me puzzled when I first read this, but now I see. So, rather than pay the SIPP fees using after tax income, you would make an extra pension contribution and use this, plus the tax relief on it, to pay the fees? This would make sense as long as you are not already at the limits for contributions that qualify for tax relief.
    koru
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    koru wrote: »
    This would make sense as long as you are not already at the limits for contributions that qualify for tax relief.

    I am, but what's the point of using money from my pocket (on which tax has been paid) to pay the fees rather than using money in the pension, on which I will be taxed later when I withdraw it?

    A tenner in my pension is only worth 8 quid (ignoring PCLS) so I'd rather use that tenner.

    For the ISA it's the other way around as I use these allowances every year and want as much in these shelters as I can. So, I'd rather use unsheltered (and potentially taxable) money first.
    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.
  • koru
    koru Posts: 1,537 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Yes, I wasn't disagreeing. It is clearly a good idea for you and for most people. But not for someone who is already contributing the maximum on which they can receive tax relief (which is as low as £2880 if you have no relevant earnings).
    koru
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Both myself and my wife contribute the max we can, her £2880 (£3600 gross) and myself whatever the annual allowance had gyrated to in any particularly year.

    For me it makes sense to pay out of my SIPP as anything in there could be taxed in future. For her it doesn't matter as her pension income will be within her personal allowance.
    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.
  • TCA
    TCA Posts: 1,604 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    koru wrote: »
    I am an existing client who will be paying a lot more if I stay with them. I e-mailed asking about exit fees and they replied saying, simply: "Of course if you decide to transfer away from our Platform there will be no exit fees levied.".
    JasonPr wrote: »
    I received a similar response. I'm surprised by how candid their response was.

    I only hold investment trusts with BI so will not be worse off under the new charging with my current holdings, but I thought I'd email them anyway to see if they'd waive exit fees if I wanted out, seeing as my "planned" substantial funds investment would now prove far more costly.........

    The answer was no. Fair enough I think. I still might consider TD Direct for my ITs though.

    Or Hargreaves Lansdown!
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