Trapped at St James place

2»

Comments

  • Albermarle
    Albermarle Posts: 21,914 Forumite
    First Anniversary First Post Name Dropper
    Scrounger said:

    He is not so keen on selling all his pension for cash and not be invested for the 4-8 weeks a transfer takes in case the stock markets go up a lot (as his whole reason to transfer is to save money )

    I was just wondering is there was another option.

    Some platforms offer to pay towards exit fees for pension transfers - eg Fidelity:

    http://www.fidelity.co.uk/pension-transfer/

    Also currently a lucrative cashback offer of up to £2000  :)

    Platform charges are capped at £200/pa for ETF's.


    Scrounger

    Cap is £90 pa at Fidelity for the whole platform
  • Scrounger
    Scrounger Posts: 1,007 Forumite
    Name Dropper First Post First Anniversary
    Scrounger said:

    He is not so keen on selling all his pension for cash and not be invested for the 4-8 weeks a transfer takes in case the stock markets go up a lot (as his whole reason to transfer is to save money )

    I was just wondering is there was another option.

    Some platforms offer to pay towards exit fees for pension transfers - eg Fidelity:

    http://www.fidelity.co.uk/pension-transfer/

    Also currently a lucrative cashback offer of up to £2000  :)

    Platform charges are capped at £200/pa for ETF's.


    Scrounger

    Cap is £90 pa at Fidelity for the whole platform
    Amazing value!  :):)

    What's not to like.

    Scrounger
  • gm0
    gm0 Posts: 847 Forumite
    First Anniversary First Post Name Dropper
    Last I checked
    Fidelity platform fee is for ETF.  (and other exchange traded instruments)
    While funds is % which is tiered (down) with bigger pot size.

    But yes - Fidelity is good for a large portfolio with ETF.  Trading costs are not the cheapest.  They ALL need to make some money somewhere so your size, behaviour etc. make one or another best - for you.
  • EdSwippet
    EdSwippet Posts: 1,588 Forumite
    First Anniversary Name Dropper First Post
    Pat38493 said:
    I would have thought that statistically you are just as likely to gain during a short out of market window as to lose out?
    Pedantically ... I think that you are statistically ever so slightly more likely to lose than to gain. This is because markets rise over the longer term.

    Of course, to experience this statistical average for yourself you would have to run this thousands of times. In practice, you run it just a handful of times over a lifetime, if that.

    (Personally, I always seem to be on the losing end every time I'm forced into cash for a period. I should probably sell advance notice of my plans as a "market movement forecast"!).

  • Scrounger
    Scrounger Posts: 1,007 Forumite
    Name Dropper First Post First Anniversary
    gm0 said:
    Last I checked
    Fidelity platform fee is for ETF.  (and other exchange traded instruments)
    While funds is % which is tiered (down) with bigger pot size.

    But yes - Fidelity is good for a large portfolio with ETF.  Trading costs are not the cheapest.  They ALL need to make some money somewhere so your size, behaviour etc. make one or another best - for you.
    I am tending more to ETF's these days (eg VWRP & VHVG) over funds (eg Lifestrategy 100) for the lower fees.

    Is there any advantage of holding funds (over ETF's) that justify the higher platform fees?


    Scrounger
Meet your Ambassadors

Categories

  • All Categories
  • 342.9K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235K Work, Benefits & Business
  • 607.7K Mortgages, Homes & Bills
  • 172.9K Life & Family
  • 247.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards