S&S ISA platform & management fees

Bobziz

Hi, Quick question for those in the know. I'm an attorney for my mother, and I'm looking at her S&S ISA, which is worth about £60k. She's currently paying a 0.3% annual platform charge and a 1% annual management fee to a FA. The FA reviews the account once or twice a year, and makes a few fund switches as deemed necessary. We're happy with the service provided, but is the combined charge of 1.3% reasonable ?
many thanks, 

dunstonh

Typically, IFA charges start at 1% but then reduce as you get more money.   At £60k, 1% is the going rate where an ongoing service is provided.
0.30% is also the going rate for that sort of fund value.  There are a number of cheaper options but the platform functionality tends to drop away once you get into the 0.1x% or 0.2x% range (on a value of £60k).   You need to let the IFA know if the priority is cost or quality.

Alexland

The charge is not unreasonable for a personal service on a relatively small amount however it will damage the return especially significant if she is in a fairly cautious asset allocation you might wonder if its really worth it.