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Vanguard: New Minimum Monthly Account charge
Comments
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Alexland said:The ninja method involves an in-specie transfer (re-regstration) of assets already invested between platforms without trading to arbitrage their fee models without time out of the market or incurring additional spread. It's for people that would want to hold the Vanguard fund/etf anyway.I imagine this is the sort of thing they wish to discourage, it must be apparent to them and would cost them more than (10, 20, 100?) low value or dormant accounts wouldTheir customers will change their behaviour to match the charging structure, it's not a surprise that they would change their charging structure in reaction to their customer's behaviour£4 pm, the cost of a couple of coffees, is still a decent enough deal for many, especially those that trade frequently2
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InvesterJones said:It's a shame. I'm thinking of the person who really needs something nice and simple, set once and forget
I'm still mildly miffed that when I started a personal pension in the 80's the deal was that you could take your pension at age 50. Somewhere along the line that changed to 55. In reality I couldn't have afforded to take any pension at 50 but it still feels a bit unfair that they can change the rules like that. Don't get me wrong. I have benefitted hugely from throwing money into a pension at the start of my career, even though I had other money pressures at the time, so it's only a very minor gripe.0 -
Hello. I think that I will transfer my small ISA with vanguard which is only about £1k out to dodl where I already have an account. Dodl is 0.15 per cent. With my ISA with Vanguard I have LS 100 and Global All Caps. I believe the closest Dodl have is FTSE World Index tracker. So that's the most similar thing to sell up and then transfer them to?
Is Dodl the best/cheapest option? It is 0.15 per cent with a minimum of £12 a year. It doesn't have all the options of some other platforms but do you think the global tracker will do a similar job to what I've got now (I know it will have less home bias). I only do £25 a month in although I do want to increase this some day.
I haven't seen Dodl mentioned as an alternative so I wanted to check if I was missing something.
Thanks a lot!.1 -
InvesterJones said:It's a shame. I'm thinking of the person who really needs something nice and simple, set once and forget - vanguard was a great option for them and the low fees meant the barrier to investing for the first time compared to savings accounts was low - which is precisely how many started out with tiny amounts just to dip their toes in the water.
Although as ColdIron said, it's only £4 a month. I could open another Halifax reward account to cover it.Debt Free: 01/01/2020
Mortgage: 11/09/20242 -
Also, as I only have a grand in it, should I just cash out and put it in a new ISA with Dodl rather than transfer it as transfers are taking a long time?1
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22225 said:With my ISA with Vanguard I have LS 100 and Global All Caps. I believe the closest Dodl have is FTSE World Index tracker. So that's the most similar thing to sell up and then transfer them to?Do you mean the FTSE All World Index? FTSE Russel don't do a World Index (although MSCI do). The All World Index doesn't include small caps like your All Cap Vanguard fund but other than that it's pretty close. HSBC do one which is probably available via AJ Bell. Cheaper as well at 0.13% OCF rather than your current 0.23%VLS is different matter, there isn't much out there that is close. You could take the opportunity to ditch, it at £25 per month is there any point in using it as well?I haven't seen Dodl mentioned as an alternative so I wanted to check if I was missing something.I think Dodl would work out well for you. App only if that's an issue22225 said:Also, as I only have a grand in it, should I just cash out and put it in a new ISA with Dodl rather than transfer it as transfers are taking a long time?3
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Thank you. Yes HSBC All World Index.0
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I opened accounts with Vanguard back in 2020 with great hopes. I quickly found their website to be awful with terrible functionality - even adding to a holding is a roundabout of clicks and selections and much more complicated than it needs be. There are bugs that tell you login has failed but then you find you are in fact logged in. And the customer service and responses to secure messages is slow. They paid me 550 compensation for 'forgetting' about two transfers out for months.Today's news may be disappointing but it's not surprising.2
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GeoffTF said:equitydealer said:eskbanker said:equitydealer said:Hoenir said:equitydealer said:Funny, for a company that used to champion lower fees they are going in the wrong direction
They've only shot themselves in the foot if they haven't modelled the impact of such a decision - any large organisation making such changes will do so in the full knowledge that some of its customers won't be happy (especially smaller ones) and will take their business elsewhere, so they will have crunched the numbers rather than this being some sort of surprise to them.
Eco Miser
Saving money for well over half a century0 -
ColdIron said:Do you mean the FTSE All World Index? FTSE Russel don't do a World Index (although MSCI do).
FTSE Russell have datasheets for their (Developed) World index on their website.
Although I agree the fund Dodl offer is the HSBC FTSE All-World index.
Personally on a small S&S ISA account I wouldn't want the EM exposure with that fund on Dodl not that it matters much but would prefer to hold a World ETF for free on T212 on InvestEngine. Or maybe for more protection use iWeb to hold a fund like Fidelity Index World if trading infrequently. Although for a small LISA then I would be OK with the HSBC fund on Dodl. It's always a balance between cost and getting what you really want trying to avoid the tail excessively wagging the dog.0
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