S&S Isa Platforms- Advice please re fees

Hello

I have a longstanding S&S Isa with Janus Henderson. The fees however are 1.23% per annum. From googling I cant tell if that's reasonable or not and therefore whether its worth transferring elsewhere for lower fees. Th fund Im in has performed pretty well over the last 10 years. Ive tried to get financial advice form an IFA but havent found one I think I can work with. Plus Im not rich and worry that i'll be parting with 1000s for little benefit

Any thoughts would be welcome

Comments

  • Albermarle
    Albermarle Posts: 21,225
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    The S&S ISA is just somewhere where you hold investments where they are protected from tax .
    So normally there is a charge for the ISA ( for the admin, running the website etc ) and a charge for the investment(s) you hold in the ISA.
    Sometimes the ISA and the investment provider are the same which can be confusing, but just be clear that the ISA and the actual investments are two different things.
    So is the 1.23% both charges wrapped together ?
    Plus what are you actually invested in ?

  • eskbanker
    eskbanker Posts: 29,969
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    https://monevator.com/compare-uk-cheapest-online-brokers/ allows fee comparison across platforms.
  • dunstonh
    dunstonh Posts: 115,739
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    If you are invested with Janus Henderson then chances are it is a pre RDR setup with bundled charges. (noting the earlier comment asking you for the charges unbundled).   

    Bottom line, if it pre-dates 2013 then its likely to be expensive and be the commission paying share class.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • My investment is Janus Henderson Global Sustainable Equity fund. So I guess tied to Janus Henderson.

    Yes the 1.23% is the overall fee
  • jimjames
    jimjames Posts: 17,501
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    If you're not paying into the ISA then unlikely to get cheaper than iWeb as you'll only be paying the fund charges not anything for the platform fee.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • ColdIron
    ColdIron Posts: 8,690
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    edited 8 November 2023 at 5:36PM
    lovelifer said:
    Yes the 1.23% is the overall fee
    The old E class has an OCF of 1.23%. The more modern clean I class charges 0.85% (regardless of platform)
    I had a notion that bundled units must now rebate some of the fee but perhaps that only applies if you don't go direct
    Click on All Units
    I assume you have the Janus Henderson fund in an ISA with Janus Henderson, if they do not charge for an ISA then switching/converting to the I class and staying with Janus Henderson could be your cheapest option (if they allow it)
  • dunstonh
    dunstonh Posts: 115,739
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    I had a notion that bundled units must now rebate some of the fee but perhaps that only applies if you don't go direct
    Vertically integrated firms didn't need to unbundle.    So own distribution of own fund allowed dirty share classes to remain.   Also the original adviser, if one involved, could still collect commission on that fund.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Linton
    Linton Posts: 17,032
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    Generally speaking it is more expensive to buy a fund directly from the manager than buying the same fund from an independent platform.

    The reason is that the platforms are set up to efficiently handle large number of customers whereas fund managers, if they permit direct buying at all, are not. Hence fund managers offer their funds to the platforms at a cheaper rate in order to get sales without the hassle and cost of providing customer service.

    Vanguard is a sort of exception but its platform is a separate business to its fund management.  Though they do only sell Vanguard products.





  • Thanks to you all for your comments. i asked about the I class and was told it's not available for individuals. So I am looking to transfer out- there's no exit fee. I would like to continue with the same portfolio- do I find a platform with lesser fees or find one which can take my isa as is? Im tempted to leave it just because Im aware my knowledge around all this is rather limited and the status quo is attractive
  • eskbanker
    eskbanker Posts: 29,969
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    lovelifer said:
    i asked about the I class and was told it's not available for individuals. So I am looking to transfer out- there's no exit fee. I would like to continue with the same portfolio- do I find a platform with lesser fees or find one which can take my isa as is?
    You can hold the I class of your fund at most platforms, including one of the cheapest (which has no ongoing platform fee):

    https://www.markets.iweb-sharedealing.co.uk/funds-centre/fund-supermarket/detail/GB00B71DPP64
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