The service fee is paid to Willis Owen for administering your account and for running and maintaining our platform. It also covers the cost of our independent investment research and insights, independent analysis from our research partner Morningstar and of our dedicated customer support services.
The amount of the service fee is shown below:
ISA / JISA / GIA:
| Tier |
Rate |
| £0 - £50,000 |
0.40%
|
| £50,001 - £100,000 |
0.30%
|
| £100,001 - £250,000 |
0.20%
|
| £250,000 + |
0.15% |
These costs are for each 'tier' of your overall balance. So, on the first £50,000 invested in your accounts, you pay 0.40%, which equates to £200 per annum, then for the next £50,000 you pay 0.30%, which equates to £140 per annum and so on.
Tier and fee calculations are based on your overall balance, including funds, shares, investment trusts, ETFs and cash.
SIPP:
| Tier |
Rate |
| £0 - £50,000 |
0.60%
|
| £50,001 - £100,000 |
0.40%
|
| £100,001 - £250,000 |
0.25%
|
| £250,000 + |
0.15% |
These costs are for each 'tier' of your overall balance. So, on the first £50,000 invested in your accounts, you pay 0.60%, which equates to £300 per annum, then for the next £50,000 you pay 0.40%, which equates to £200 per annum and so on.
Tier and fee calculations are based on your overall balance, including funds, shares, investment trusts, ETFs and cash.
The service fee is charged as 1/12th of the annual percentage on the monthiversary of your registration. The charges are calculated on the balance of your portfolio each day. The service fee is taken from any available cash in your account or, if there is insufficient available cash, by selling investments within your account proportionally in order to create the required amount to cover the charge.
Investment charges relate directly to the investments you buy. They are taken by fund managers either from the capital or income generated by the funds you invest in and are not charged by, or paid to Willis Owen. They cover things like:
-
The services of an expert fund manager
-
Administration, legal, audit and registration fees incurred by the fund
-
Custodianship costs associated with keeping your investments safe
-
Dealing costs and taxes incurred by the fund when it buys and sells investments
Investment charges vary from fund to fund and, when choosing your investments, you can find details of investment charges in a fund's Key Information Document.
Trade Fees
Trade fees are applied when buying and selling shares, investment trusts and exchange traded funds. They cover the costs associated with arranging to buy or sell these types of investments on your behalf. There are no trade fees for buying or selling other types of funds. The table below sets out the amount of the fees applied:
| Investment Options |
Single Transaction |
Regular Saving |
| Funds |
no fee |
no fee |
| Shares |
£7.50 |
n/a |
| Investment Trusts |
£7.50 |
n/a |
| ETFs |
£7.50 |
n/a |
Trade fees are applied when buying and selling shares, investment trusts and ETFs.
Due to the nature of these types of investments, they are traded singularly. Regular saving and dividend reinvestments into shares, investment trusts and ETFs are therefore not permitted. We offer a Quote and Deal facility where you can choose whether to accept the price quoted during market hours. You will also be presented with full details of all additional fees applicable at the point of each trade.
Government Levies
If you buy shares or investment trusts, you will be subject to UK Stamp Duty at a rate of 0.5% of the value of the trade (not applicable to shares listed on AIM).
You also pay a levy of £1 if you buy or sell shares or investment trust holdings worth more than £10,000. This is called a PTM (Panel of Takeovers & Mergers) levy.
These taxes and levies do not apply if you buy or sell units/shares in funds or exchange traded funds.
You can use this simple calculator to give you an idea of how much your fees and charges could be for your first year of investing in funds. If you invest in shares, investment trusts or exchange trade funds, remember you may pay additional trade fees and taxes which aren’t shown here.
You'll get a more accurate indication of costs at the point you’re ready to invest. Remember that this is only designed to give you an indication of costs and what you actually pay depends on how you choose to invest as well as how your investments perform.
