fees

Wealth Management Advice versus DIY investing

This article reflects the opinions of its author and not necessarily those of ShareSoc. £300 or £3,400 of fees (i.e. costs) you pay each year? £300 or £3,400 of costs/advice fees is the choice that an investor with a £170,000 portfolio would face if he/she invested in a Vanguard passive fund with interactive investor or sought individual financial advice from one of the UK’s leading firms of advisers. £170,000 is the average portfolio of a St James’s Place client so is a useful ...

Investors Chronicle, 14 May 2020, Watch what you’re being charged

This article https://www.investorschronicle.co.uk/managing-your-money/2020/05/14/watch-what-you-re-being-charged/ quotes Cliff Weight and ShareSoc extensively. Cliff Weight, director at investor campaign group ShareSoc, says that although £195 sounds like a reasonable price for the administration of transferring stocks and closing an account, if a firm has good systems it doesn’t seem fair if this level of fee is charged for every account held by one person. “A client could notionally have five accounts, but it’s the same press of a button,” he argues. Lack of awareness Although Redmayne Bentley’s fees are not more punitive ...

Scottish Mortgage Investment Trust reduces fees

The Scottish Mortgage Investment Trust has announced that the management fees paid to Baillie Gifford are to be reduced. They are coming down from  0.32% to 0.30% of net assets per annum. This reduction is surely to be welcomed, and there is no performance fee at this trust. The Chairman of the company, John Scott,  said: "Both the Board and Managers are keenly aware that low charges have a major impact on long term returns especially when compounding is taken into account.  ...