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Service & Charges

Skipton Invest Direct provided by Skipton Building Society offers access to over 2,300 Funds from 95 different Fund Managers on the FundsNetwork platform.

 

Further benefits of this service

24-hour online access to your investment funds

Online switching service

Free helpdesk - 0800 012 1249^

After purchasing for the first time, FundsNetwork will provide you with a secure log-in that will give you online access to your portfolio, whenever you need it.

There are also several tools available to help you analyse your investments.

If you later decide you wish to move some or    all of your money into a different fund, FundsNetwork offer a quick and easy online switching service.

 

If you require help using the site, you can call us free on 0800 012 1249.

Should you determine you might benefit from financial advice, you can also call this number to arrange a face-to-face appointment with an Adviser^.

 

E-newsletters

Every other month, we will send you an e-newsletter that features investment news which might be of interest to you.

We will also provide you with regular global market updates.

 

Tools and calculators

To support you when making your own investment decisions, this site features a range of useful tools and calculators.

This includes the current Top Selling and most Highly Rated ISAs and Funds available via SFS Invest Direct.

Tools & calculators
 

About the Charges

 

Initial charges

Skipton will not take an initial charge if you invest into a fund or ISA via this site. However, some funds may still apply an initial charge, which will reduce the value of your initial investment. These charges are disclosed on the buy online section of the website.

Platform charge

To cover FundsNetwork’s costs of administering your investment, you will also pay a platform charge of 0.225% of the value of your investment on an annual basis. This charge is automatically deducted from your account.

Annual Management Charge (AMC)

All funds will apply an Annual Management Charge (AMC), which is typically a percentage of your investment value (usually between 0.2% and 1.0%). The AMC covers expenses incurred by the fund manager in running the fund; for example fees, administration costs and investment management costs. The AMC is taken into account in the price of the fund, and is calculated daily.

Ongoing Charges Figure (OCF)

There will be additional expenses, which include depositary fees, plus legal and audit costs. The AMC and additional expenses together comprise the Ongoing Charges Figure (OCF). Depending on the type of the fund, the OCF can range from 0.2% to 2.0% and will typically vary from year-to-year.

Example of ongoing charges

Assuming a £10,000 investment the following charges could apply to you. A Ongoing Charge Figure of 1% has been assumed for the purposes of this example; 

 

% charge each year

Equivalent £ charge each year

Ongoing Charges Figure

1.00%

£100

Platform Charge

0.225%

£22.50

Total Ongoing Charge

1.225%

£122.50

The above information is for example purposes only, you could pay more or less than this depending on the value of your investment and the AMC applied by the fund manager. The value of your investment can go down as well as up and this will impact on the monetary value of the charges you will pay.

Disclosure of charges

Within five working days of completing your transaction, you will receive a disclosure of charges relating to your investment. If you have any queries about these charges, please call our helpdesk on 0800 012 1249.

Do you require financial advice instead?

Investing with Skipton Invest Direct may not be appropriate if you have little or no financial knowledge, you are investing a large amount of money or if your financial needs are complex. In these cases, it might be more appropriate to receive financial advice.

For more information about arranging a face-to-face appointment with an Skipton Financial Adviser^, call 0800 012 1249.

^ Investments made face-to-face through an Adviser will be under Skipton Financial Services Limited’s usual terms and these will be explained to you.