Saga Share Direct

Saga share direct (run by Equiniti) has imposed a 0.35% Annual Administration charge for all it's accounts from 8/1/2018. Saga for years has run an admin free service for it's 60 years plus investors. With a 250k portfolio this has come as a bit of a hit. I would welcome any advice/input from forumites as whether this 0.35% is a standard/reasonable fee across the industry.
Thanks for any input


  • Has my calculator gone haywire or does that mean an annual admin charge of £875?? And going up with (hopefully) the value of your portfolio.
    Presumably that's with dealing charges on top?
    If so, I'd be looking around for an alternative. There are plenty out there.
  • Been very happy with YouInvest
    Based on £250K portfolio annual charge would be £30 (not the Equiniti charge of £875)
    For Bonds and PIBS, it requires a telephone call to deal at £9.95 (very good service)
  • YouInvest, provide good value for a fairly vanilla service, I don't have any major complaints.

  • I am with Selftrade (Equiniti) and charges only usually apply to funds and not ordinary shares, prefs, PIBs,Bonds, Investment Trusts or ETFs

    Might be worth checking that with them, unless you hold everything in OEICs, Unit Trusts, Mutual Funds etc

  • edited December 2017

    yeah, sounds about right @Wozzitworthit, couldn't find these new charges @colin, where you looking

    On that note, how come Equiniti is still going with three brands > Shareview, Selftrade, Saga > II got rid of TD Direct Investing already

  • I use II who have now taken over TD direct. I pay £22.50 a quarter for a trading and an ISA account. There are no charges for holding unit trusts beyond the £10 dealing commission, which is a charging scheme that is hard to better, and they have on line dealing in corporate bonds as well as shares. They are a low cost approach, not perfect, however the low cost structure has given me a much wider range of investment opportunities than I would otherwise have had. For me on line dealing is easier and you can be picky about prices.
  • Moved my SIPP over to HL, after the disaster at Barclays Smart investor. More expensive, so it seems, but always available on phone. Their website not as user friendly than the Barclays of old, but plenty of research on companies and funds. Do not think their bond trading capability is nearly as efficient as Barclays used to be, but then again do not buy bonds at present, as risk/reward is ridiculous.
  • The main drawback with HL is that phone bond dealing is very expensive, however online dealing is ok, with YouInvest I always execute bond trades with a Fill or Kill order over the phone, which is a little more hit and miss,but really cheap (online is not available).
  • Thanks all for the comments. I have been e mailing Equiniti on 3 occasions over the past 6 days without an answer !!! After reading everyones comments i suspect these charges are aimed at funds as mentioned by Wozzitworthit I guess Equiniti are too busy partying at this time of year to reply
    Merry xmas to all and here's to a hopefully prosperous New Year with more pearls of wisdom from forumites
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