Any experience with Cushon?

lozenlady

My workplace has just negotiated a reduced platform fee with Cushon of 0.4% pa rather than 0.79%. Fund manager fees are between 0.25% and 0.30% for ready made portfolios (which I am happy to use) with no other fees, no entry / exit charges, no trading charges and no transfer charges.

The reduced platform fee is mine for the duration of my investments, I don't loose it if I change employers.

I have never heard of Cushon and am new to investing, so am looking for anyone's experiences with them, any workplace negotiated investment discounts or whether these fees seem reasonable? 

Albermarle

Never heard of them but looking at Google they seem perfectly legit, if not a bit too 'on trend' about sustainability etc.
Nat West have taken a big stake in them.
NatWest buys 85% stake in pensions fintech Cushon - FTAdviser
 An overall fee of around 0.65/0.7% is not bad but not particularly cheap. You are probably paying a bit extra for all the green stuff. 

george4064

My employer also offers this ‘benefit’, however their ‘discounted’ fees are still higher than many existing and reputable platforms such as Vanguard, AJ Bell etc. so I haven’t used them (Cushon) and don’t intend to…

Albermarle

george4064 said:

My employer also offers this ‘benefit’, however their ‘discounted’ fees are still higher than many existing and reputable platforms such as Vanguard, AJ Bell etc. so I haven’t used them (Cushon) and don’t intend to…

Although of course depends which funds you buy . If you bought A J Bells low cost multi asset 'Responsible growth fund' then with the platform charge the cost would be 0.7% in total .
If you bought an A J Bell 'Ready made portfolio' fund then the total cost would be 1%
Vanguard would be a bit cheaper, some  other providers would be more expensive.