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Cap on CTF annual charges
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clarksta33
Posts: 2 Newbie
Hi, I need help understanding the charges being applied to my daughters CTF with Columbia Threadneedle.
I see the charges being applied to my daughter's CTF are:
Summary of Costs and Charges on your account - % of Investment
Service Costs 0.08%
Product Costs 2.06%
Total Costs and Charges 2.14%
Which seems a little more than I expected. So looking for info on the CTF charges I found
the Government docs show: Providers can make charges for management and other expenses but they are capped. This means that a CTF provider’s management charges cannot not exceed 1.5% per annum of the value of a CTF stakeholder investment account that they have managed for a whole year.
Can someone please help improve my understanding?
Thanks in advance.
Which seems a little more than I expected. So looking for info on the CTF charges I found
the Government docs show: Providers can make charges for management and other expenses but they are capped. This means that a CTF provider’s management charges cannot not exceed 1.5% per annum of the value of a CTF stakeholder investment account that they have managed for a whole year.
Can someone please help improve my understanding?
Thanks in advance.
0
Comments
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Total Costs and Charges 2.14%its about right for a Friendly Society plan.
Which seems a little more than I expected.Can someone please help improve my understanding?Stakeholder CTFs are capped but non stakeholder CTFs are not.
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.1 -
Transfer to JISA elsewhere?
Example
https://www.hl.co.uk/investment-services/junior-isa/transfer-an-existing-junior-isa
1 -
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