£100 cashback for ISA/PEP reregistration

whiteflag_3

link removed by isasmurf

Gambler

What's the catch with re-registration?

dunstonh

It may be an idea to post you affliliation with this IFA whiteflag.

The only very minor, but noteworthy, things about registration is that the annual manangement charges may be different with the new wrap/supermarket/provider (higher or lower). Also some fund supermarkets/wrap/provider have features that the other does not (to name just a few: regular fixed withdrawals, annual fund rebalancing, may do MAXIs only, may have free switches or charged switches).

In addition, not all funds can be re-registered. The big players can but the banks, for example, cannot. That involves a transfer which means you can be out of the market for some days, have to choose new funds and face a fee (often around 1-2%). That isnt a bad thing necessarily, particulary if you are with a bank for you ISA.

To change providers before meant transfering at a cost of up to 6%

Yes, up to 6% if you did it wrong Re-registration has been round a long time and does not cost. Transfers are normally done by IFAs at a minimal cost of 1-2%. Banks can't do them so you get the full bid/offer spread and/or initial charge.

The offer is quite good. Personally, I only give £75 so it beats me What this IFA is doing is taking £5000 @ 0.5% trail commission over 12 months = £25 and refunding that back as well. So a minimum £5k transfer is break even over 12 months and higher fund values will be profitable within 12 months. For smaller fund values, the offer is very good. For larger fund values, HL/Cavendish are likely to be cheaper if the annual rebate of trail commission outstrips the £100.