Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • ColdIron
    • By ColdIron 10th Aug 18, 5:14 PM
    • 4,746Posts
    • 6,215Thanks
    ColdIron
    Charles Stanley Direct to increase fee to 0.35%
    • #1
    • 10th Aug 18, 5:14 PM
    Charles Stanley Direct to increase fee to 0.35% 10th Aug 18 at 5:14 PM
    Just received via email

    Notification of Platform Fee Increase from 10th September 2018:

    Since the launch of Charles Stanley Direct over five years ago, we have maintained an extremely low platform fee of just 0.25%. Over this period of time the pace of change in the digital world has continued to escalate and the costs to the business have grown, particularly relating to cyber security and systems to combat fraud. We have further grown our Edinburgh Helpdesk as user numbers have risen to ensure that we continue to deliver an exemplary customer service.

    Against this backdrop, in order to continue to meet the expectations of our clients with respect to developing our platform and investing in our people, we have made the decision to increase our platform fee to 0.35% from 0.25% on both fund and share holdings. We realise that such news is never welcome and would like to assure you that we have not taken this decision lightly. We will continue to:
    • Maintain our Loyalty Scheme levels at 0.20% for fund balances in excess of 250,000 and sharp tapering thereafter on your amalgamated accounts
    • Retain a charging cap of 240 per annum on our stocks & shares platform fees.
    • Offer a platform fee waiver to stocks & shares holders, meaning that clients can obtain free platform fees by undertaking one monthly trade at 11.50 commission.
    • Maintain free fund dealing on the website and in-App.
    • Offer no administration fees for Investment, ISA or Junior ISA account wrappers. No charge for SIPP wrapper if combined holdings in any CSD account are more than 30,000 in aggregate.
    These new charges will take effect from the 10th September 2018. Further explanation on the reasons for the change in platform fee charging can be seen HERE.

    Letting our clients know of a price increase is not an easy message to pass on, but we hope that you will understand that it will permit us to continue to invest heavily in the service. You will see the results of this investment over the coming months, through further improvements to the App and significant changes to the website.

    The revised Charges & Rates sheet can be found here and during the notification period our standard Terms & Conditions will apply for transfer instructions.

    Thank you for being a Charles Stanley Direct client. We appreciate that our clients have a choice and we do not take your custom lightly.
    Last edited by ColdIron; 10-08-2018 at 5:33 PM.
Page 3
    • jamei305
    • By jamei305 11th Aug 18, 3:26 PM
    • 365 Posts
    • 431 Thanks
    jamei305
    Cavendish and AJ Bell are obvious alternatives at 0.25%. Cavendish don't do shares and AJ Bell charge 1.50 per trade. Vanguard Investor would be cheaper at 0.15% if you just want Vanguard (no SIPP yet), I have Fundsmith and L&G Global Healthcare & Pharma which shuts that door for me. iWeb are worth considering if you don't trade much and if they offer the funds you want, they don't appear to have Vanguard Global Small Cap. A quandary
    Originally posted by ColdIron

    I have Vanguard Global Small-Cap Index Fund GBP Accumulation (VIGSCA) with iWeb, if that's what you mean?
    • bowlhead99
    • By bowlhead99 11th Aug 18, 4:46 PM
    • 8,286 Posts
    • 15,151 Thanks
    bowlhead99
    I have Vanguard Global Small-Cap Index Fund GBP Accumulation (VIGSCA) with iWeb, if that's what you mean?
    Originally posted by jamei305
    Presumably:
    link
    • ChopperST
    • By ChopperST 13th Aug 18, 10:17 AM
    • 1,132 Posts
    • 745 Thanks
    ChopperST
    Presumably:
    link
    Originally posted by bowlhead99
    Think I'll be moving my funds to iWeb Bowlhead as a fixed fee broker makes sense compared to % fee now for my portfolio size. Any feedback on customer service / switching in before I push the button?
    • DennisTenus
    • By DennisTenus 13th Aug 18, 11:15 AM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    How are Interactive Investor these days? Read lots of complaints about service here previously about them
    • Gaeilgeoir
    • By Gaeilgeoir 13th Aug 18, 1:44 PM
    • 8 Posts
    • 2 Thanks
    Gaeilgeoir
    Could I ask for a little advice here? I have a stocks and shares ISA with CSD (small portfolio, roughly 3k). What would be the best way to go about transferring this? Is there a more formal way of doing it than just withdrawing everything and applying for a new account with another provider?
    • ColdIron
    • By ColdIron 13th Aug 18, 2:28 PM
    • 4,746 Posts
    • 6,215 Thanks
    ColdIron
    Your annual charge on 3,000 with CSD would go up from 7.50 to 10.50, is there any point in transferring for 3 quid a year? CSD are pretty decent and unless you are adding tens of thousands to it in the short or medium term I'd be inclined to leave things as they are. If you did want to move the ISA you would usually contact the new ISA provider and instruct them to initiate an ISA transfer as removing it yourself would cause the cash to lose its ISA status. However if you are not going to use your annual allowance of 20,000 it would probably be the easiest and quickest way in this case
    • Gaeilgeoir
    • By Gaeilgeoir 13th Aug 18, 5:57 PM
    • 8 Posts
    • 2 Thanks
    Gaeilgeoir
    Yeah, you're right. The service has been good, and the fees remain low so I'll stick with it. Cheers!
    • masonic
    • By masonic 13th Aug 18, 7:23 PM
    • 9,988 Posts
    • 7,231 Thanks
    masonic
    How are Interactive Investor these days? Read lots of complaints about service here previously about them
    Originally posted by DennisTenus
    It depends on what you invest in and how much customer service you need. TBH, I've had tax reclaims and commission rebates paid in a timely manner recently. The other bugbear was delays with dividends on open-ended funds - I'm not sure how they are doing on that front as I'm in Acc units.
    • Mr.Saver
    • By Mr.Saver 14th Aug 18, 11:10 PM
    • 55 Posts
    • 11 Thanks
    Mr.Saver
    CSD does not have an exit fee for ISA, and it's free to transfer out as cash.

    I'll use this opportunity to transfer my ISA to a cheaper platform and make changes to my portfolio
    • DennisTenus
    • By DennisTenus 14th Aug 18, 11:36 PM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    It depends on what you invest in and how much customer service you need. TBH, I've had tax reclaims and commission rebates paid in a timely manner recently. The other bugbear was delays with dividends on open-ended funds - I'm not sure how they are doing on that front as I'm in Acc units.
    Originally posted by masonic
    By open ended funds do you mean income funds?
    • masonic
    • By masonic 15th Aug 18, 6:55 AM
    • 9,988 Posts
    • 7,231 Thanks
    masonic
    By open ended funds do you mean income funds?
    Originally posted by DennisTenus
    I mean funds that aren't investment trusts or ETFs.
    • DennisTenus
    • By DennisTenus 15th Aug 18, 12:02 PM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    I mean funds that aren't investment trusts or ETFs.
    Originally posted by masonic
    So funds that aren't investment trusts or ETFs are all open ended?
    • ColdIron
    • By ColdIron 15th Aug 18, 12:07 PM
    • 4,746 Posts
    • 6,215 Thanks
    ColdIron
    Fund in this sense is a generic or umbrella term for Unit Trusts, OEICs etc and these are open ended. Investment Trusts and ETFs are not funds in that sense
    • chile_paul
    • By chile_paul 15th Aug 18, 1:22 PM
    • 403 Posts
    • 285 Thanks
    chile_paul
    I currently have a combination of ISA's, Junior ISA's (for my daughters) and a SIPP with CSD.

    In an ideal world I'd move all of these to Vanguard's platform now - but of course Vanguard won't have a SIPP offering until the end of the year.

    From what I can see, you would transfer each account individually anyway; so presumably I could transfer the ISA and JISA's now and then leave the SIPP with CSD until the Vanguard offering is availa ble and then move this later in the year?

    If I give notice of my intention to transfer the SIPP, would I be able to avoid the transfer charge for the SIPP even though I wouldn't move it until after the 30 days stated in the terms?
    • ColdIron
    • By ColdIron 15th Aug 18, 2:10 PM
    • 4,746 Posts
    • 6,215 Thanks
    ColdIron
    CSD say they will waive the fees if the transfer instructions are received by 10th September. After that they are not obliged to
    • DennisTenus
    • By DennisTenus 15th Aug 18, 3:04 PM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    CSD say they will waive the fees if the transfer instructions are received by 10th September. After that they are not obliged to
    Originally posted by ColdIron
    I only have LTGE and AXA Framlington Global Tech with CSD atm, can those be transferred to HL for example as they are without coming out the market (selling/buying again)?

    Also as the S&S ISA with CSD is this tax year, and the amount is not the full 20K, if i transfer these to HL can I then continue to add money to HL for this year then (and obviously close the CSD S&S ISA)?
    • rail.link
    • By rail.link 15th Aug 18, 4:31 PM
    • 237 Posts
    • 30 Thanks
    rail.link
    Have they waived the account closing fee, as well?
    • ColdIron
    • By ColdIron 15th Aug 18, 4:50 PM
    • 4,746 Posts
    • 6,215 Thanks
    ColdIron
    Have they waived the account closing fee, as well?
    Originally posted by rail.link
    I don't think CSD levy an account closure fee, just the transfer out/withdrawal charge per line
    • ColdIron
    • By ColdIron 15th Aug 18, 5:12 PM
    • 4,746 Posts
    • 6,215 Thanks
    ColdIron
    I only have LTGE and AXA Framlington Global Tech with CSD atm, can those be transferred to HL for example as they are without coming out the market (selling/buying again)?
    Originally posted by DennisTenus
    HL offer a cheaper class D of the Lindsell Train fund at 0.54% than CSD's B class at 0.74%. While this is usually a good thing it does mean that it can't be simply re-registered and would probably need to be transferred as cash and re-purchased, so some time out of the market. No problems with the AXA fund as they both offer the Z class at 0.83%

    Also as the S&S ISA with CSD is this tax year, and the amount is not the full 20K, if i transfer these to HL can I then continue to add money to HL for this year then (and obviously close the CSD S&S ISA)?
    As long as you transfer all this year's subscriptions to HL you can continue with HL up to the annual limit

    You do know that HL's platform fee at 0.45% is still higher than CSD's new 0.35%? The AXA fund would cost you 0.10% more with HL and Lindsell Train 0.10% less so it's pretty marginal
    • DennisTenus
    • By DennisTenus 15th Aug 18, 5:17 PM
    • 303 Posts
    • 39 Thanks
    DennisTenus
    You do know that HL's platform fee at 0.45% is still higher than CSD's new 0.35%? The AXA fund would cost you 0.10% more with HL and Lindsell Train 0.10% less so it's pretty marginal
    Originally posted by ColdIron
    Yes but i was intending putting more into LTGE and have more in that than the AXA (especially as the AXA fund is high risk)

    Silly question.... HL have told me they calculate fees at end of the month (not daily like CSD), so I know it would be a pain to do and potentially a few days out of the market, but I could sell my big holdings at the end of each month until the start of the next then buy them again and my HL fee would be considerably less??
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,605Posts Today

8,757Users online

Martin's Twitter