Met police isa

classicone

Has anyone got this or had any thoughts?

Alexland

My only thought is they would like to sell ISAs to police people to make them feel special or confuse them into thinking they are getting some kind of perk. Hardly a reason to invest in their otherwise drab products.

Eyeful

 I have found that financial providers, when their charges/fees are low or good value for money always make a fuss about them.  Here the 1% promotion is shown in a nice BIG red circle, their charges however, take a lot of searching for. 

Alexland

Eyeful said:

financial providers, always make you fully aware when their charges/fees are low or good value for money.

Even then you can't always trust them for example I was looking at The Children's ISA for the other thread earlier and they have "low cost" graphics all over their website (the OP even mentioned they were low cost - really?) but then in the small print they have a 1% initial charge before all their other expensive ongoing, transfer-out and ID verification charges. Our kids are now paying 0.10% total with Fidelity (free platform and discounted tracker fund) so it would take 10 years of Fidelity service charges before they paid as much as that 1% initial "low cost" charge.

DrSyn

 I have found that financial providers, when their charges/fees are high or they offer poor value for money always make them hard to find. 

dunstonh

Do you mean Met Friendly?
If so, then its very expensive.


Entry costs are unusual nowadays.   Usually, the only initial cost is an adviser cost.  However, there is no advice being given on this but they are still charging an initial.  1.37% ongoing is not expensive if an adviser was involved but simple DIY solutions cost around 0.3-0.5%    So, as this is a DIY option, you are benchmarking costs against other DIY options.

The promotional offer is just returning the entry cost plus half a years ongoing.   

That said, it is typical of Friendly Society products.  They typically deal with the bottom end of the market with very low values and dont have the benefit of economies of scale that the larger providers/distributors have.  So, you expect them to be more expensive.   So, I understand the pricing even though I wouldn't go near it personally.