SIPP IFA management fees
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IFA has confirmed the breakdown of :-
IFA fees 0.75 %
Investment expenses 0.5 %
Platform fees 0.25 %
At least that confirms it is not the IFA getting 1.5% as you suggested in your first post.
However, 0.75% on a £1m fund value is high. 0.5% is far more typical. I suggest you look to negotiate that down.At the moment I wouldn't be comfortable going DIY, but thats not to say in the future that I would gain knowledge and confidence to have a go at DIY Is there any reason to stop me transferring to DIY in the future ?
No.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.0 -
Thanks all for the response.
IFA has confirmed the breakdown of :-
IFA fees 0.75 %
Investment expenses 0.5 %
Platform fees 0.25 %
At the moment I wouldn't be comfortable going DIY, but thats not to say in the future that I would gain knowledge and confidence to have a go at DIY Is there any reason to stop me transferring to DIY in the future ?
Now that you understand the fees try to understand how the IFA has invested your money.“So we beat on, boats against the current, borne back ceaselessly into the past.”0
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