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Maxi ISA - too expensive
Comments
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Ahh thankyou.
PM on it's way..0 -
The most important bit on my last post was you believing you are seeing an IFA when you are not. You must see an IFA. Its costing you money.
I just gave an example of two highly regarded funds where the initial charge is discounted to match the commission taken. So, if you went by IFA average rather than maximum as you are currently are, then you would only pay 1.8% initial charge and not 5%.
So are you saying that an IFA get's a discount that he / she can pass onto the end customer ?0 -
With most IFAs using platforms/wraps/fund supermarkets nowadays, many fund houses discount their funds on these. Then its just a case of factoring in the IFA commission/charge.So are you saying that an IFA get's a discount that he / she can pass onto the end customer ?
As I said, take Inv Perp High Income. That fund has a 5% initial charge if you buy from Inv Perp. However, IFAs can get that at nil initial charge plus commission. So, if the IFA takes 1.8% then your initial charge will be 1.8%.
I am only using that fund as an example as it one of the most popular funds in the UK.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
With most IFAs using platforms/wraps/fund supermarkets nowadays, many fund houses discount their funds on these. Then its just a case of factoring in the IFA commission/charge.
As I said, take Inv Perp High Income. That fund has a 5% initial charge if you buy from Inv Perp. However, IFAs can get that at nil initial charge plus commission. So, if the IFA takes 1.8% then your initial charge will be 1.8%.
I am only using that fund as an example as it one of the most popular funds in the UK.
I have seen the light
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I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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