Initial charges and management fees on ISA investment funds?

Rixdorf

Hi all - I had an account on here for 10-15 years but lost it when the board moved, so first post from longtime user!

My mum is being advised by a financial advisor who has in the past steered her to funds that have returned well. She is about to retire and has a lot of loose pots of money. The Financial Advisor suggested moving her cash ISA to a stocks and shares ISA fund that has an Initial Investment charge of 3% and an annual management fee of 1%. This will be a very large fund with a 50k minimum investment.
My question is are these fees normal/standard or is this on the higher side?

Obviously I know that she can choose her own stocks and shares and put them in an isa packet but she is 65 years old and there is no way she is going to do this. Another example is that I myself have an account with Vanguard and have invested in a couple of their funds with pretty low fees
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Obviously most Cash ISAs do not beat inflation, hence the suggestion of the Financial Advisor to move to a Stocks and Shares ISA. I believe that the financial advisor has my mum's best interests at heart as she has known the family for 30 years, but it just seems that fees like this are excessive - but maybe that is the price you pay for expertise of the fund manager?

I have had a scout around the forum and I can't really get an idea of standard fees. Also please let me know if I need to provide further info

Linton

My first thought is that your data could be wrong. Are you sure you chose the right Class? The figures, in particular the initial fee and the minimum investment, look more like the costs if you buy direct from the fund manager than through a platform.
Can you tell us the fund name?

dunstonh

This will be a very large fund with a 50k minimum investment.
Whilst it almost certainly is a large fund for you.  It is very small for an IFA.    Many IFAs have a minimum they will consider. £50k is very often that figure but so is £100k or even £250k.

My question is are these fees normal/standard or is this on the higher side?
For £50k, they are right in the ballpark.    (For £300k or £3m then they would be high but then most IFA firms taper their charges or set a cap).

Albermarle

If you were to buy a managed fund on an investment platform within a S &S ISA yourself, then you could expect to pay between say 0.6% and 1.5% for the fund  and then say 0.35% for the platform . But zero initial set up fee.