ISA Investment Query

[kaiser78]

Hi All

Hoping someone can help - I have been running a Skandia funds
MultiISA for the past couple of years. However the charges/commisison fees every time I make a lump sum deposit is 3% to my IFA and 1.5% to Skandia.

Now, my IFA does monitor the funds every 6 months and investment changes where necessary, but paying 4.5% charges/commisisons each time I make a payment sees excessively high ? Is it ?

[Fred Bloggs]

Yes. HTH.

[Gonzo]

Hi All

Hoping someone can help - I have been running a Skandia funds
MultiISA for the past couple of years. However the charges/commisison fees every time I make a lump sum deposit is 3% to my IFA and 1.5% to Skandia.

Now, my IFA does monitor the funds every 6 months and investment changes where necessary, but paying 4.5% charges/commisisons each time I make a payment sees excessively high ? Is it ?

That is the cost of professional advice.

You could ask your IFA if he will bill you for his time instead and rebate his commissions. Independent Financial Advisers will usually do this.

Or you could go it alone to someone like Hargreaves Lansdown http://www.h-l.co.uk/ who will give you discounts but in return you get no personal advice. NB This is an example, not a recommendation.

[Freelancer Financials]

Hi All

Hoping someone can help - I have been running a Skandia funds
MultiISA for the past couple of years. However the charges/commisison fees every time I make a lump sum deposit is 3% to my IFA and 1.5% to Skandia.

Now, my IFA does monitor the funds every 6 months and investment changes where necessary, but paying 4.5% charges/commisisons each time I make a payment sees excessively high ? Is it ?

Hi Kaiser78,

It is relatively high, but it also depends on the overall performance of the fund. Some ISA funds charge less than 1% but their performance is poor.

John