core trackers for Sipp

zagfles

atush wrote: »

I think there is a difference between two commercial entities haggling, and charges to customers?

One is commerce, and there are rules under fair trading for the other?

Rubbish. People haggle directly for all sorts of products. Holidays, clothes, hotels, why not financial products? You really think fair trading rules ban haggling, unless done via an intermediary like an IFA :rotfl:

dunstonh

zagfles wrote: »

Really? But it's OK for IFAs to haggle discounts on products (eg annuities) is it?

Completely different things.

Obtaining improvements through commercial advantage and economies of scale is something most retail businesses do.

However, giving anyone that complaints a lower a charge than those that don't is unethical. Indeed, the RDR has seen compliance companies give out warnings that if you discount your charge to certain clients but not others then you have to record why you are doing it. it if is found you are doing it to many then it leads to a potential TCF breach.

OldBeanz

The OP (I think) was meaning that he just qualified for the lower charge for HL SIPPS. No special deal:
Amount Charge
£0 - £250,000 0.45%
£250,000 to £1m 0.25%
£1m to £2m 0.10%
Over £2m 0.00%

zagfles

dunstonh wrote: »

Completely different things.

:rotfl:yes course it is!

Obtaining improvements through commercial advantage and economies of scale is something most retail businesses do.

Giving discounts to those who are prepared to haggle or complain is also something most retail businesses do. I haggle all the time, for clothes, hotels, markets etc. Nothing "unethical" at all about it. Except perhaps in the view of those who want to sell their services on the basis that they can haggle a discount

However, giving anyone that complaints a lower a charge than those that don't is unethical. Indeed, the RDR has seen compliance companies give out warnings that if you discount your charge to certain clients but not others then you have to record why you are doing it. it if is found you are doing it to many then it leads to a potential TCF breach.

I'm sure HL are aware of the rules.

I find it far more unethical that those with a vested interest would have an issue with people haggling a discount direct with a provider, but then use their haggling ability as a selling point for the services they offer.

zagfles

OldBeanz wrote: »

The OP (I think) was meaning that he just qualified for the lower charge for HL SIPPS. No special deal:
Amount Charge
£0 - £250,000 0.45%
£250,000 to £1m 0.25%
£1m to £2m 0.10%
Over £2m 0.00%

Under HL's standard pricing the OP would pay 0.45% on the first £250k and then 0.25% on the remaining £3k. The OP implies he got 0.25% on the lot, which is typical of the sort of discount HL have offered, see the thread I linked.

grey_gym_sock

dunstonh wrote: »

However, giving anyone that complaints a lower a charge than those that don't is unethical. Indeed, the RDR has seen compliance companies give out warnings that if you discount your charge to certain clients but not others then you have to record why you are doing it. it if is found you are doing it to many then it leads to a potential TCF breach.

ethics and the requirements of regulation are different things. ppl tend to have different opinions on what is unethical.

what are the specific relevant regulations relevant to this? i'd be very surprised if the FCA were banning all haggling by businesses with retail clients. don't some IFAs haggle with clients (as well as with other businesses)?

might compliance companies be "gold plating" the regulations? this does happen in some areas. it can be a red flag if they start talking about "best practise"; or about ethics.

pointdexter

OP reply.Core tracker research suggests 2 BlackRock, corp Bond tracker(H)and emerging markets equity tracker(H). Also 3 Legal and General, Global inflation link bond (C), General international index Trust(C) and UK index (class C).medium risk profile,6 years time scale minimum, significant s&s isas and cash savings,no dependants mortgage free.As for HL discount, i simply asked the question.