Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Bestinvest secures 0.66% AMC on funds platform

11 Comments
Bestinvest secures 0.66% AMC on funds platform

Bestinvest is introducing a 0.4% platform fee for investors with up to £250,000, which undercuts Hargreaves Lansdown, but is slightly above Fidelity's new charge.

Investors with up to £250,000 will pay the 0.4% fee, which drops to 0.2% for assets between £250,000 and £1 million with no charge on amounts above that.

However, it will not offer the tiering that Fidelity has introduced, meaning even investors with larger sums will still pay the full charge on their initial £250,000, as is the case with Hargreaves. Sipp investors will pay 0.3% on the initial £250,000 and then 0.2% on the middle tier with no charge above that.

Bestinvest has secured an average 0.66% annual management charge on funds, which compares to 0.65% for Hargreaves and 0.64% on Fidelity's Select List. There are no fixed fees for holding investment trusts with trades priced at £7.50. The Association of Investment Companies (AIC) hit out at Hargreaves for treating investment trusts as a seperate investment class and introducing a charge for holding them.

Chief executive Peter Hall (pictured) said: 'Our goal is to offer investors an exceptional value-for-money service that is underpinned by rigorous and unbiased research. We know from our years of experience that saving for retirement is one of the most critical personal finance challenges clients face. 

'For the award-winning Best Sipp we have introduced an even lower service fee to enable clients to get the best possible outcome from their retirement savings.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter