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simultaneously bad for both small and large investors
is it that bad for large investors?
there will be plenty of people that don't commute on private jets that will have hit the £375 max fees amount with Vanguard. I get that if I had an ISA with them and pension elsewhere then it'd look unappealing, but it's all accounts combined and (golf club etc.) my pension lump means that any ISA savings aren't attracting any further costs.
I suspect the number of people who do that “hack” are probably quite small in the grand scheme of things, but they likely do have a tonne of small accounts with <5k in. It’s weird though, the change has made it simultaneously bad for both small and large investors, so I’m not sure what their USP is now. I’ll certainly never use them again after transferring my SIPP out.