Portfolio Switching Costs on IFA takeover
in ISAs & Tax-free Savings
3 replies 142 views
My IFA merged (was taken over) with another. My original IFA picked stocks themselves but the new one contracts out. The new one wants me to switch my portfolio to a managed fund on another platform but wants to charge me 1% to do this (and this will be on top of their annual fee) AIBU to feel that this is a stitch up? I am seriously considering changing IFAs or transferring everything to the Fidelity platform into a spread of managed funds and managing my portfolio myself. I am 52, mortgage free, with a generous (PLSA luxurious) defined benefit pension that I can access at 55 - so no need for income drawdown. Balanced attitude to risk and looking for growth for next 5 years.
Latest MSE News and Guides