ISA Management charges

ac427

I have an ISA with a reputable firm but after the inital 12 months i an now paying £5 per month in management fees.

Do all ISA firms charge fees to look after (do !!!!!! all with) your ISA? 

Are there any ISA firms that will just be happy to looking after my ISA investment without charging fees?

InvesterJones

ac427 said:

I'm have an ISA with a reputable firm but afdter the nintal 12 months i an now paying £5 per month in management fees.
Do all ISA firm charge fees to look after (do !!!!!! all with) your ISA? 

No. Not all do.

ac427

InvesterJones said:

ac427 said:

I'm have an ISA with a reputable firm but afdter the nintal 12 months i an now paying £5 per month in management fees.
Do all ISA firm charge fees to look after (do !!!!!! all with) your ISA? 

No. Not all do.

Thanks, Are the ones that don't reviewed here on MSE ?

jimjames

MSE doesn't really review investments. I use iWeb and they don't charge any monthly fees but you do need to pay £5 to buy and sell.

eskbanker

ac427 said:

I have an ISA with a reputable firm but after the inital 12 months i an now paying £5 per month in management fees.

Do all ISA firms charge fees to look after (do !!!!!! all with) your ISA? 

Are there any ISA firms that will just be happy to looking after my ISA investment without charging fees?

There are costs involved in 'looking after your ISA investment', so don't be under the misapprehension that there aren't.

However, as above, there are some platforms whose charging structure entails such costs being recovered in ways other than a monthly fee, so if that's important to you then you could transfer to one of those.  What are you invested in, and how much is involved?

Albermarle

£5 a month is a lot if your investment is less than £1000, but peanuts if you have tens of thousands of Pounds.
Do you know how much the actual investment costs you ?

dunstonh

Do all ISA firms charge fees to look after (do !!!!!! all with) your ISA? 

Why do you think the ISA provider shouldn't be paid for the work they do?

Are there any ISA firms that will just be happy to looking after my ISA investment without charging fees?

That isn't a business model that would last very long.   Are you going to start asking for employees to no longer be paid and instead work for free?

gm0

For a stocks and shares ISA there are 3 possible sources of charges:

1 An IFA/FA arranging it for a client as part of their overal affairs - pension - etc.  Charging a fee or % of "assets under management" for their advice and services.  You can zero it out by just setting up your own ISA.  Online. Widely available consumer product.   The "not taking advice" route.

2 The "product" or platform fee to have an ISA account (or indeed several products) with say - Vanguard or Fidelity, iWeb etc.

Charging varies hugely - trade fees, annual fixed fee, capped, %, and based on the type of investments.
Some will be cheaper for small investment amounts, some better value for large amounts.  Some suit people who trade once and hold for ages.  Others suit those who change their investments regularly.

3 The "fund" fees - charges embedded in unit prices for investments held in it.  FMC etc.  Fund factsheets.

By contrast cash ISA's only really have the charges in the first two categories.

And often are "free" to hold an account (2) - but then have a lower offered interest rate to compensate.  And they make the money that way. Still a % of funds charge


Based on your preferences and trading behaviour (if stocks and shares) - choose a poison.

There are sometimes very cheap "app" new entrants trying to bulk up with customers subsidised by their investor money but they often start with a general investment account (no tax wrappers). And some then add ISA later.  And sometimes (but not always) pensions (SIPP).  If they offer joining incentives - this can be a very cheap option in the short term.  They will of course pivot to wanting to make money from the customers they have - just later. 

Checking UK registered and FSCS protected etc. 

Like anything financial services.  Shop around regularly or expect to get milked.

Albermarle

Like anything financial services.  Shop around regularly or expect to get milked.

True, but on the other hand not sure that relying on relatively new companies that have no, or extremely low fees and do not make a profit, is always the best option.

Eyeful

1. Tell me, do you work for free or do you get paid for the work you do? 
2. Any business will charge you for looking after your ISA. Some state the charge up front where you can see it , while others hide .the charges. They would not stay in business for long if they worked for free. 
3. There is no such thing as a "free lunch". Someone has to pay & businesses are going to make sure its not them but you!

ac427

I have 12k with iii. for the first 12 months it was free now it is £5 per month.

i am just considering moving it because the fees probably outweigh any gains i might make.