Service and charges
By investing your money through Skipton Invest Direct, in partnership with FundsNetwork, you can benefit from these features.
24 hour access to your investment funds
You’ll be provided with secure log-in details to access your portfolio whenever you need it – so you can check how your funds are performing.
If you later decide to move some or all of your money into a different fund, it’s quick and easy to use the online switching service.
Every month, we’ll send you topical email news updates, including latest market events, to keep you informed.
Free telephone-based support
Need any help using the site? Call us free on 0800 012 1249. You can also use this number to find out more about our financial advice service^.
About the 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.
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
|Total Ongoing Charge
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.
^If you decide to act on our advice, a charge will apply. However, the amount will be outlined to you before you make a final decision.