Fees and charges

Our fees are clear, competitive and easy to understand. There’s no charge for setting up your account, buying, selling or switching funds, and no annual fee for your ISA, SIPP or investment account, however, there is a platform fee of 0.25% per year which is deducted monthly.

To the extent that we charge a dealing fee, this will not exceed £8.95. You should always check the online trading screens and any order confirmations prior to submitting your transaction request, as any applicable fees and charges will be clearly shown.

NB – Investment management fees for Unit Trusts, OEICs and Exchange Traded Funds will be levied by the relevant fund manager and are detailed on their Key Investor Information Documents.

Summary of charges

Set up account

Nil

Contributions into your account

Nil

Transfers in

Nil

Buying, selling or switching Unit Trusts or OEICs

Nil

Buying, selling or switching Exchange Traded Investments

To the extent that we charge a dealing fee, this will not exceed £8.95

Please note, the gross interest rate on any cash held (excluding fixed rates on FTDs and excluding any cash held within the 'other assets' section of your portfolio) will be calculated as the daily Bank of England base rate minus 0.4%, subject to a minimum of 0%.

Fees and charges factsheet

  • 18 Jan 19
  • 0.15MB
  • PDF

You’ll find full details of our fees and charges in this factsheet.

Download


 

Pricing FAQs

General

Will I be able to see what I am paying when I invest?

Yes. In line with rules issued by the Financial Conduct Authority (FCA), you can only make new fund investments into "clean" (commission-free) share classes of funds on our platform. You will understand exactly what you are paying for and where it is going (such as to the platform provider or fund manager).

Who do I pay when I invest in funds?

When you invest in "clean" (commission-free) share classes of funds you will pay an Annual Management Charge (AMC) to the fund manager. You will pay Close Brothers a separate “platform fee” for using our platform to buy, sell and hold your fund investments.

What is your platform fee for investing in funds?

Our standard fee for investing in funds is 0.25% each year, deducted monthly.

What are the fees for Exchange Traded Investments (ETIs)?

The platform fee for holding ETIs (stocks and shares, investment trusts, exchange traded funds, gilts and any other exchange-traded securities) is 0.25% each year. 

To the extent that we charge a dealing fee, this will not exceed £8.95. You should always check the online trading screens and any order confirmations prior to submitting your transaction request, as any applicable fees and charges will be clearly shown.

Do you calculate the platform fee across all of my accounts?

The platform fee for funds will apply as a percentage of the total you hold in any of your accounts (excluding fixed term deposits), including your Investment Account, your Close ISA and your Close SIPP.

Will I be charged a platform fee for holding cash?

You will not be charged a Platform Fee to hold cash in your account(s), although the interest we pay to you on any cash held might be less than the amount we receive.

What does my platform fee pay for?

The platform fee is charged for platform-related services including dealing, administration, custody and reporting.

Do you charge a separate fee for setting up or holding the Close SIPP or ISA(s)?

No, we do not levy an administration charge for holding the Close SIPP, Close ISA or an Investment Account.

I’m thinking of closing my account, will I be charged to transfer my investments to another provider?

Close Brothers Self-Directed service does not charge exit fees for transferring an ISA, SIPP or Investment Account to another provider.

Calculating your fees

Are all of my accounts included when you calculate the rate I will pay?

All of your Self-Directed accounts are included when we calculate the fee you pay.

What investments do you use to calculate the fees?

We calculate the platform fee against any funds and/or exchange traded investments (ETIs) you hold in any of your accounts. The following investments do not attract a platform fee: 

  • Cash held on the portal within your Close ISA, Close SIPP or Investment Account
  • Fixed term deposits

All portfolios have a capital account where investments are received, withdrawals are paid from and trading transactions are placed. Ongoing advice, management and platform fees are deducted from the cash held in the capital account of each portfolio. The only exception is where a fee divert has been set. This allows the ongoing fees to be levied on an ISA to be diverted and collected from an investment account. If you wish to set up a fee divert, please contact the Investor Support Team.

When do you calculate and deduct fees from my account?

Platform fees are calculated on the last day of each month and deducted from your respective Product Cash Account on the second day of each month (including weekends). A single platform fee will be deducted which would be applicable to any exchange traded investments (ETIs) and funds you hold.

What happens if I don’t have enough cash in my account to pay for fees?

If you don’t have enough cash available in your applicable accounts, we may sell some of your investments to cover your charges. Where we do this, we will sell investments on a least volatile stock first basis. You should be aware that the sale of investments for these purposes may occur at a disadvantageous time or may result in a tax charge for which we shall not be liable. Where this occurs outside of a tax wrapper, you mat need to take this into consideration when calculating any capital gains tax liability. 

Will I see how much you’ve deducted from my account?

You will be able to see the amount we’ve deducted each month online under “Account Activity".

Managing investments

What will happen to my existing bundled investments?

Your existing investments will remain in “bundled” (commission-paying) share classes unless you transfer them, or we convert them into the “clean” share class version.

What is the difference between bundled and clean share classes?

Previously, your "bundled" investments were denoted with a star (*) online and on your statements. If you still hold this type of investment, they will no longer be denoted as such on the updated portal. If you wish to know if any of your investments are bundled, please contact the Investor Support Team.

Can I hold both bundled and clean share classes of funds at the same time?

Yes, however “bundled” (commission-paying) share classes of funds are no longer available for new investment. If you hold bundled share classes, Close Brothers will continue to be paid via a rebate from the fund manager.

Making transactions

Will I pay charges when I buy, sell or switch funds?

No, we do not levy any additional charges when you buy, sell or switch funds on our platform.

Are there fees for buying and selling shares?

To the extent that we charge a dealing fee, this will not exceed £8.95. You should always check the online trading screens and any order confirmations prior to submitting your transaction request, as any applicable fees and charges will be clearly shown.

I still have some "bundled" commission-paying share class investments that I want to switch to clean share classes, can I do this on the platform?

Yes, you are able to use our switch functionality to change from “bundled” (commission-paying) share classes to “clean” (commission-free) share classes online. It’s important to note that when you perform a switch your money will be un-invested for the period your units are being sold and re-purchased. Most “bundled” share classes you hold on our platform that have a clean equivalent will be converted to “clean” share class equivalents later in the year to bring costs down for most of your investments, if you’d prefer not to switch yourself. Your money will remain invested while we do this.

Can I transfer investments to your platform?

We can only accept “clean” share classes in-specie; any “bundled” share class investments you hold must be sold and then transferred as cash.

Can I still make a regular contribution into bundled share classes?

No, you will only be able to set up or amend a regular contribution into “clean” (commission-free) share classes. For existing regular contributions in “bundled” (commission-paying) share classes, we will automatically change your regular contribution to invest in the “clean” share class equivalent, provided an equivalent exists. In the event that we cannot do this we will contact you.

I’m currently re-investing income into bundled share classes. Will my income continue to be re-invested?

If you are currently invested in a “bundled” (commission-paying) share class and have elected for your income to be re-invested, this income will be paid into your Capital Account for that portfolio. If you would like your income to continue to be automatically re-invested, you will need to switch your fund investment to a “clean” (commission-free) share class.

Please be aware, the value of investments can fall as well as rise and that past performance is not a reliable indicator of future returns and you could get back less than invested. Click here to understand the risks associated with investing. Calls to any number may be recorded for training and monitoring purposes. This site uses Cookies.