Alliance Trust announces huge fee increases for savers as Charles Stanley Direct slashes charges for January


#1

Alliance Trust Savings (ATS) platform has announced it is to increase investor charges by up to 87.5% for its investment accounts, as competitor Charl
[See the full post at: Alliance Trust announces huge fee increases for savers as Charles Stanley Direct slashes charges for January]


#2

My wife’s ISA which I mange is with ATS. It’s only worth around £9,000 so that works out at a 1% charge up from 0.5% previously. This is before fund managers fees.

It’s too expensive for small savings like ours.

I think they’re shooting themselves in the foot because they’ll lose people like us who will might have small saving pots right now but we’re young and we’ll save a lot more in future.

At least we can transfer away for free. I wonder if this includes transferring without selling to cash first?

I’ve never heard of Charles Stanley Direct, I wonder if they’re a better option for us?


#3

Unfortunately @Amir I think they are trying to encourage investors such as you to transfer away.

A 1% fee on a fund size like yours is to high.

I have a SIPP & ISAs with ATS but although the fee hike is not welcome it doesn’t have such an impact because I’m a lot older than you and so I have a larger investment pop.

I think if ATS are going to increase their fees so much though they really need to start improving the service they offer. Their website is really outdated. We should be able to select corporate actions online.

Also, they should offer reinvestment of dividends for free.


#4

…I thought Charles Stanley Direct were the execution only service for the same styled stockbroking firm. I could be wrong but I don’t think they’re a platform like ATS.


#5

@Amir Me & my wife are in the same boat. We both have ISA’s with ATS worth £10K. The new charges are too high for the size of our investments. They’re having a laugh boss.

I’m intending to top up both come April by about £5-6K each and do the same each year going forward, so it will get cheaper, proportionately, over time.

I agree with @DerwkW they need to improve their website a lot if they’re gonna charge so much more money man.

Yer, free reinvesting of dividends would help sweeten this bitter taste.

Never heard of these Charles Stanley guys either.


#6

Maybe this makes sense for Alliance Trust Savings because it is not profitable for them to provide ISAs for only £9-12K amounts.

I am with Fidelity Funds Network which I don’t like because there are not so many investment trust available there.

I want to transfer but I don’t know who to. Not Alliance Trust Savings because my ISA is only £12K but I will make it larger as much as they permit when I am allowed to again in April (I am not sure of this date?).

Maybe Charles Stanley Direct might be good for me no?

Maybe it is a good idea to start a forum discussion on them too?


#7

I use Funds Network too @Andre and I really want to move. My last IFA moved me there.

I’m thinking of Hargreaves Lansdown.

I don’t know a lot about ATS. Does anyone who uses them like them?

I think I’d would be great if there was like a guide to all the different platforms. If there is one I have’t seen it.


#8

I use the Alliance Trust platform and i aint got no complaints.
To be honest, I dont know how they make any money, my charges aint high.

I have my SIPP and mine and my wife’s ISAs and money for the kids/grand kids.

You can buy funds, shares or investment trusts no problem.
I do it all on the internet because it’s a lot cheaper this way but for me they’ve been fantastic.


#9

Charles Stanley Direct offer just about the same service as Alliance Trust as far as i can see.

I have never used Alliance Trust but I use Charles Stanley Direct.

They’re cheap and offer a reasonably good service.


#10

Here’s a good article from The Telegraph comparing different Platforms/supermarkets for investors with large and small portfolios of various sizes…