Interactive Investor to roll out ‘Netflix pricing’

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  • londoninvestor
    londoninvestor Posts: 1,350 Forumite
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    Alexland wrote: »
    New pricing looks unattractive especially as they continue to collect account fees from outside the tax advantaged SIPP wrapper. Just makes me happier that I chose Halifax SD for my funds SIPP.

    I have only a SIPP with them, and the fee comes from inside the wrapper.

    If you have multiple accounts though, not sure if you can ensure that the fees come from the SIPP rather than the GIA.
  • Alexland
    Alexland Posts: 9,653 Forumite
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    Doesn't the £22.50 quarterly account fee come from outside the wrapper? Another poster said they had to pay it directly via DD.
  • londoninvestor
    londoninvestor Posts: 1,350 Forumite
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    Alexland wrote: »
    Doesn't the £22.50 quarterly account fee come from outside the wrapper? Another poster said they had to pay it directly via DD.

    My £22.50 comes from inside the SIPP, for sure. (As, unsurprisingly, does the £120 annual SIPP-specific fee.)

    That might only be possible if you only have a SIPP and no other account though.
  • mollycat
    mollycat Posts: 1,475 Forumite
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    Alexland wrote: »
    Doesn't the £22.50 quarterly account fee come from outside the wrapper? Another poster said they had to pay it directly via DD.

    Although not exactly what was asked my £22.50 quarterly fee comes from outside my (ISA) wrapper, on a DD.

    I do not have a SIPP.
  • londoninvestor
    londoninvestor Posts: 1,350 Forumite
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    mollycat wrote: »
    Although not exactly what was asked my £22.50 quarterly fee comes from outside my (ISA) wrapper, on a DD.

    I do not have a SIPP.

    In your case that sounds like the ideal solution - paying from within the ISA would just waste £90 of ISA allowance a year.

    For people with SIPPs, generally the optimum is to pay from within the SIPP, since that money has received tax relief.
  • mollycat
    mollycat Posts: 1,475 Forumite
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    londoninvestor wrote: »
    In your case that sounds like the ideal solution - paying from within the ISA would just waste £90 of ISA allowance a year.

    For people with SIPPs, generally the optimum is to pay from within the SIPP, since that money has received tax relief.

    Yep, got the gist of what was being discussed belatedly.

    Not quite with it today :o
  • EdSwippet
    EdSwippet Posts: 1,588 Forumite
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    londoninvestor wrote: »
    My £22.50 comes from inside the SIPP, for sure. (As, unsurprisingly, does the £120 annual SIPP-specific fee.)
    Mine doesn't; neither of them. I have a vague recollection of asking them how I could arrange for this to happen, and I'm pretty sure their response at the time ran along the lines of "you cannot".

    Would you mind sharing if there is any 'secret sauce' that you had to apply to have this happen? Thanks.
  • londoninvestor
    londoninvestor Posts: 1,350 Forumite
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    EdSwippet wrote: »
    Would you mind sharing if there is any 'secret sauce' that you had to apply to have this happen? Thanks.

    I don't think I did anything special, I'm afraid - don't even remember being asked to choose an option when I opened the account.

    I opened it last summer, so if your dealings with them were earlier than that, it might be worth asking whether things have since changed.
  • masonic
    masonic Posts: 23,275 Forumite
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    What a mess. I hold a total of 2 open ended funds, so I suppose that will push me into the higher charge bracket, but I'll be able to sell my ITs (but not my ETFs) cheaper. It's unclear whether or not the £1 regular investing feature will survive this, so my buy orders will either stay the same, or rocket in price.

    But at least it's free to transfer out. I'll be sure to do a rebalance prior to this because who knows how long my account will be in limbo this time around!
  • londoninvestor
    londoninvestor Posts: 1,350 Forumite
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    masonic wrote: »
    What a mess. I hold a total of 2 open ended funds, so I suppose that will push me into the higher charge bracket,

    You can choose your pricing plan - they'll default you to one but they say this will be visible by 15th April, so time to change before 1st June.

    I hold almost entirely funds but I'm sure the £10 plan will work best for me.

    (The FT article seemed a bit confusing - I can see how it gives the impression that you won't be allowed to trade funds unless you have the £14 one... whereas in fact that plan just discounts fund trades from £8 down to £4.)
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