Vanguard hike in fees - ouch!
Discussion
Vanguard have just announced an increase in fees from January
For my daughter, with £5K in her Vanguard ISA, the account fee will increase by 640%, from £7.50 to £48. We each have over £32K with them, so not affected
For my daughter, with £5K in her Vanguard ISA, the account fee will increase by 640%, from £7.50 to £48. We each have over £32K with them, so not affected
Email from Vanguard said:
Now You pay 0.15% On any invested balance, capped at £375 a year.
From 31 January 2025 You pay £4 a month, £48 a year On invested balances under £32,000. You pay 0.15% On invested balances of £32,000 and over, the same as it is today, capped at £375 a year.
The same email invites those impacted to close their Vanguard account or move their savings elsewhereFrom 31 January 2025 You pay £4 a month, £48 a year On invested balances under £32,000. You pay 0.15% On invested balances of £32,000 and over, the same as it is today, capped at £375 a year.
Edited by mikef on Thursday 12th December 16:05
PM3 said:
PH solution ..... give her 27K for a GIA , sorted.
It really is this. The cost of servicing tiny accounts doesn't make sense - so they pass it on to you in the hope you'll either top it up or leave.
I'm currently trying to find a home for £600k and it's amazing how many banks etc that think I'm too broke to bother (they may have a point).
Where is worth looking at to shift my S&S ISA to? It's worth about £15k and I just want a "fit and forget" plan. I don't do any trading, it's been in a Lifestyle fund since i opened it about 5 years ago.
iWeb says it has no platform charges or account fees, which sounds almost too good to be true.
iWeb says it has no platform charges or account fees, which sounds almost too good to be true.
PM3 said:
PH solution ..... give her 27K for a GIA , sorted.
I've gifted her rather more than that in the past month to buy a flat, so the ISA will have to waitI don't want her to keep moving between ISA providers (it's possible, but a pain), so a bit wary about other lifestyle options that could soon go the same way
boyse7en said:
Where is worth looking at to shift my S&S ISA to? It's worth about £15k and I just want a "fit and forget" plan. I don't do any trading, it's been in a Lifestyle fund since i opened it about 5 years ago.
iWeb says it has no platform charges or account fees, which sounds almost too good to be true.
iWeb is the solution for you. No catches. iWeb says it has no platform charges or account fees, which sounds almost too good to be true.
£5 a trade if you ever do.
Petrus1983 said:
I'm currently trying to find a home for £600k and it's amazing how many banks etc that think I'm too broke to bother (they may have a point).
£600k to invest and the banks view you as broke? Yikes. That must rule out 99.5% of the population, surely? Definitely including me ...
MrJuice said:
£48 a year to manage £32000 for you is incredibly cheap. crazy cheap
i doubt there are many options out there that will be less than £4 per month up to 32k
But £4 a month is a big chunk if you are only paying in £10 or £20 a month. It's not a great way to encourage people to save for the future.i doubt there are many options out there that will be less than £4 per month up to 32k
MrJuice said:
agreed
not great at all for people just starting out.
are there any other options though for self managed ISAs with very low fees like vanguard as they were before their scheduled price rise?
I'm looking at iWeb. Apparently there are no fees unless you actually do trades. If you are an invest-and-forget kind of saver then it looks good, but I'm going to try and read up a bit more about it before i switchnot great at all for people just starting out.
are there any other options though for self managed ISAs with very low fees like vanguard as they were before their scheduled price rise?
I came here after getting the same email from Vanguard.
I've recently moved my SIPP away from them, to ii, as it was over the threshold where ii was cheaper, but it looks like to add an ISA to my ii account would be £10 a month, so still cheaper to stay with Vanguard for my use case of < £10k but regular monthly top ups.
I've recently moved my SIPP away from them, to ii, as it was over the threshold where ii was cheaper, but it looks like to add an ISA to my ii account would be £10 a month, so still cheaper to stay with Vanguard for my use case of < £10k but regular monthly top ups.
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