Charles Stanley Direct to increase fee to 0.35%

ValiantSon

SeeMe wrote: »

I only have 22k in VLS 60 fund in my ISA but i will transfer it to Vanguard Investor and hope they keep the low platform charge at the same level for a while yet.

I suspect that they will, as they are trying to grow their market share amongst individual investors, but even if they don't, there are no exit fees, so you can always transfer again to a different platform, should the increased fee no longer be competitive.

Grumpazoid

Grumpazoid wrote: »

After doing a bit of research I'm thinking of moving all the funds that I hold and are available on iweb over to them. Charles Stanley agree I can move which funds I like for zero charge. It seems a no brainer unless I am missing something?

Now looking at ii (despite the mixed reviews). They hold all the funds I currently have and I will be saving around £500 per year in fees.

DennisTenus

Grumpazoid wrote: »

Now looking at ii (despite the mixed reviews). They hold all the funds I currently have and I will be saving around £500 per year in fees.

Exactly. I'm considering this also

Grumpazoid

DennisTenus wrote: »

Exactly. I'm considering this also

I called them this morning. They answered straight away and were very informative. I know people who used the virtual portfolio service have had a lot of problems since the website change but I am hoping they will be fine for holding my existing funds.

SeeMe

ColdIron wrote: »

Your annual charge on £3,000 with CSD would go up from £7.50 to £10.50, is there any point in transferring for 3 quid a year?

Can you say roughly what the increase would be on 22k if i did not add to the fund.

Grumpazoid

SeeMe wrote: »

Can you say roughly what the increase would be on 22k if i did not add to the fund.

0.25% of 22K = £55
0.35% of 22K = £77

ColdIron

You can do the sums yourself. £22,000 times 0.25% is £55. The new charge for a year will be £22,000 times 0.35% or £77 so a £22 difference or about the cost of a Chinese takeway

SeeMe

Grumpazoid wrote: »

0.25% of 22K = £55
0.35% of 22K = £77

ColdIron wrote: »

You can do the sums yourself. £22,000 times 0.25% is £55. The new charge for a year will be £22,000 times 0.35% or £77 so a £22 difference or about the cost of a Chinese takeway

Ok thanks, £22 is not massive but a saving although CSD has been fine so far and i may stay for now, will ponder to see if its worth the hassle.


Just thought though 0.15% with vanguard investor is another saving plus the £22?

Mr.Saver

ColdIron wrote: »

You can do the sums yourself. £22,000 times 0.25% is £55. The new charge for a year will be £22,000 times 0.35% or £77 so a £22 difference or about the cost of a Chinese takeway

That £22 takeaway certainly isn't a Money-Saving takeaway!:rotfl:

ColdIron

Sesame prawn on toast: 5.00
Hot and sour soup: £3.30
Char Shui pork in XO sauce: £6.40
Singapore fried noodles: £6.00
Extra satay sauce portion: £1.50

Some things have a value beyond simple cost