Vanguard: New Minimum Monthly Account charge

IanManc

Swipe said:

However, as mentioned earlier in the thread, we no longer have the choice to pay it solely from our Vanguard SIPP 

You do still have the choice of paying it solely from your Vanguard SIPP if the SIPP is the only product you have with Vanguard. Or you can choose to pay if from an external source by direct debit.

Swipe

IanManc said:

Swipe said:

However, as mentioned earlier in the thread, we no longer have the choice to pay it solely from our Vanguard SIPP 

You do still have the choice of paying it solely from your Vanguard SIPP if the SIPP is the only product you have with Vanguard. 

Yes, I should have caveated that.

Foxhouse

Thanks everyone for their comments here; it's helped me a great deal.

I have one question I need answering though (I've contacted VG for their response but no reply yet), which I've not got total understanding on.

If I pay the fees for my SIPP and ISA by direct debit, this won't be viewed as part of the annual allowances? In other words if my fees in the ISA are £500 p.a. (they're not) and I pay by DD, I'll still be able to put £20k into the ISA for investment? Or will I now be limited to £19500?

Thanks

pbcpdeveloper

Paying fees via DD doesn't count as part of your annual allowance.

Foxhouse

pbcpdeveloper said:

Paying fees via DD doesn't count as part of your annual allowance.

Thanks - I've set a dd for future payments.

jimjames

Anyone else having delays with investments moving from Vanguard? I know the process has been slow and delayed but I'd (maybe naively) thought that once it started it was automated and no human intervention needed.

Half the funds moved from my SIPP 3 weeks ago, the remaining funds are not showing in Vanguard but are not in the new provider either. The value shows in Vanguard but not the actual lines for the funds themselves. Is that normal or does someone need to give it a nudge to fix something blocking it? Every transfer between providers previously has taken a few days for all funds to move but with a single fund house involved I'd not expected this level of delay between different funds transferring. After over 3 weeks it's making me wonder if there is a problem.

Slinky

All these comments about the increase in fees from Vanguard, I was surprised when I had a quarterly DD from them of just over five quid. Was expecting it to be more? I've only really just started taking notice of the actual amounts as previously they sold off units to pay their fees, but now I'm getting them to DD from my bank account.

IanManc

Slinky said:

All these comments about the increase in fees from Vanguard, I was surprised when I had a quarterly DD from them of just over five quid. Was expecting it to be more? I've only really just started taking notice of the actual amounts as previously they sold off units to pay their fees, but now I'm getting them to DD from my bank account.

I've had the same experience with my SIPP. I'd been expecting to start to see a £4 a month deduction, but I've just been charged a quarterly charge of just over £7 for early January to early April.

boingy

The new charge only started at the end of Feb.

IanManc

boingy said:

The new charge only started at the end of Feb.

Which is why I was surprised not to have been charged it for March.