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Online access to your investments

We have created a competitive, low-cost service. This includes:

  • An unbiased charging structure.
  • A high level of transparency.
  • A fee structure that is not influenced by higher commission paying funds, and supports impartiality on your investment selection.

Our charges 

 The charges for our service are simple: 

  • The cost of the service is: The Mercer Fee + Platform Fee + Any Fund Related Fees
  • Our charge is 0.20% per annum* of your platform assets for providing this service.
  • The total cost is dependant on what funds you choose and the total assets (See below for examples).
  • Fund Annual Management Charges (AMCs) start from 0.10%
  • There are no hidden costs such inactivity charges or ad-hoc fees for providing information.

For further information on the cost of the funds, please see our fund listing.
* 1/12th of this charge is taken on a monthly basis.
** Please note that the full charge is still taken from the fund and you do not need to allow cash for this charge.

Platform charges for ISA and investment account

  • Cofunds apply a 0.25% (2.5p per £1)* switch cost for moving between funds within the ISA and general investment account.
  • Cofunds charge a platform fee for using the service dependant on the level of your combined assets. This is a tiered charge. 

Platform Tiered charges for ISA and investment account

 Cofunds will charge your cash account a fee calculated as percentage of your combined assets as follows: 

Total Assets

% Charge p.a

£0 to £500k

0.23%

£500k to £1mill

0.20%

£1million +

0.15%

The charge works on a ratchet basis so is applicable at each level. So if you had £750k on the platform, £500k would be charged at 0.23% per annum and £250k at 0.20% per annum.

In addition to this cost will be the Mercer Fee and Any Fund Related Charges. To explain further we have set our some examples below. 

CHARGING EXAMPLES 

The total cost for investing on the platform depends on how much money you place on the platform. A key factor is the choice of funds you select . We have set out below two examples if you invested in a single fund. in reality, you are likely to hold several funds and this may increase or decrease your cost. The positive aspect to this is that it is entirely your choice! 

ACTIVE FUND MANAGEMENT

Active Fund Management describes funds where a fund manager will trade holdings based on their judgement in line with the fund mandate e.g a UK Equity manager will trade at least 80% of the funds assets in UK Equities.

The core advantage of active management is that you outsource the day-to-day management of your money to an expert who will invest on your behalf. Active funds have a varying levels of investment risk with some aiming to outperform the market and others looking to protect against market falls whilst offering the opportunity for investment growth. The downside to active management is that the managers do not always get it right resulting in returns below the market. Whatever the outcome, you still need to pay a higher price than passive management for them to manage the fund. 

If you had £20,000 on the platform and invested in a one "Active fund" that cost 0.75% per annum then your annual charge would be:  

CHARGE SEGMENT

Rate %

£ Cost p.a.

Platform Fee

0.23%

£46

Mercer Fee

0.20%

£40

Fund Fee (TER)*

0.75%

£150 #

Total Cost

1.18%

£196

Note: That if you used lower cost active funds especially those investing in fixed interest, then your overall cost will be significantly reduced. 

#Please note that all fund charges are taken from the fund price so you do not need to allow cash to pay for this. 

PASSIVE FUND MANAGEMENT

Passive management descirbes the approach where a management group will provide a fund that replicates a market such as the FTSE All Share Index. The commonly used phrase "Tracker Funds" describes these types of product with a wide range available on the My Wealth Direct platform.

The core advantage of tracker funds is that they are low cost. This means you can gain exposure to a range of asset classes and markets whilst keeping the overall cost of your portfolio lower. The downside to Tracker funds is that they offer very limited opportunity for significantly outperforming the market and in the vast majority of cases will also fall in line with the market. Sadly investing in the stock market is not risk free! 

CHARGE SEGMENT

Rate %

£ Cost p.a.

Platform Fee

0.23%

£46

Mercer Fee

0.20%

£40

Fund Fee (TER)*

0.10%

£20

Total Cost

1.18%

£106

 * TER = Total Expense Ratio which means the Annual Management Charge plus any additional expenses. A number of other platforms only tell you the AMC and hide the actual cost of the funds. You should always look for the TER when investing. 

#Please note that all fund charges are taken from the fund price so you do not need to allow cash to pay for this. 

One of the key benefits of a non-advised solution is that the choice is entirely up to you so can can spend as little or as much as you like. 

IMPORTANT 

It is essential that you read all Key Investor Information Documents (KIID) for each fund and product before making an investment. The current product KFD for the platform is available on the box to your right. The fund KIIDs are available at the point of trading but before you proceed with the transaction.
* E.g. A fund value of £5,000 at 0.25% would mean a charge of £12.50 (£5,000 x 0.25%)

Your committment

 Mercer Marsh Benefits is committed to providing a first-class service and a competitive price for you. In return, you will agree to our terms of business and fee agreement

The Mercer Fee and Unit Sell down - IMPORTANT

You are responsible for ensuring that sufficient cash remains in your client account for the payment of both the platform and Mercer fee which is deducted monthly. 

On opening account we will automatically set our fee to be taken from your largest holding in the event that your cash account is empty. To avoid this, it pays to keep a little extra in your cash account. Remember you can view this online account at any time! 

To ensure you have enough money in the account, simply multiply your account balance (excluding your cash account) by the Mercer Fee (0.20%) and the Platform Fee and divide by 12 e.g: if you had a balance of £15,000 it would be: 

Balance = £15,000 x (0.23% + 0.20%) = £34.50 / 12 = £2.87 per month. 

What does non-advised mean?

IMPORTANT INFORMATION FOR CLIENTS

Managing your portfolio online can be a fulfilling exercise, however it is important that you understand the service we are offering. Therefore, we have set out a few key points that we believe you should be aware of before using this service:

  • My Wealth Direct is a non-advised service meaning that it is provided without the provision of financial advice.
  • This means that you are liable for the investment decisions you make when trading on the platform.
  • When you register for the service you will have confirmed that you accept our Terms and Conditions of Business and it is very important that you read this document.
  • Mercer Marsh Benefits will supply research information to assist in your decision making but this does not form a recommendation or financial advice. Mercer Marsh Benefits is not liable for any investment decision or tax consequences you make within your portfolio.
  • You need to take account of your own attitude to risk when making your investment decisions and you are responsible for assessing the suitability of a fund or product.
  • Investment funds carry different levels of risk dependant on their investment mandate and you are responsible for understanding the risks involved with each fund.
  • It is very important that you read the Key Investor Information Document (KIID) on all funds and products that you purchase on the platform.
  • You are also responsible for ensuring that you can meet the financial obligations for any regular payment policies you enter into and for the general administration of your account such as the payment of fees and charges.
  • It is your responsibility to assess the affordability of the investments you make and the level of emergency reserve you wish to retain.
  • Cofunds are responsible for the provision of the platform service.

If you have more complex needs and require bespoke financial planning advice around your investment and tax or estate planning strategy, our advisory service may be right for you.

Contact our personal financial planning team to find out more.

Platform Key Information Document*?

*Including the ISA Key Features Document

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